Arrow Electronics, Inc. (NYSE:ARW) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.74-1.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.75. The company issued revenue guidance of $6.325-6.725 billion, compared to the consensus revenue estimate of $6.29 billion.

Several research analysts have commented on the company. Stifel Nicolaus boosted their target price on Arrow Electronics from $80.00 to $84.00 and gave the stock a buy rating in a research note on Friday, May 5th. Zacks Investment Research raised Arrow Electronics from a hold rating to a buy rating and set a $79.00 target price for the company in a research note on Tuesday, April 11th. Finally, BidaskClub downgraded Arrow Electronics from a strong-buy rating to a buy rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $76.40.

Shares of Arrow Electronics, Inc. (NYSE ARW) opened at 79.81 on Friday. Arrow Electronics, Inc. has a 12-month low of $58.51 and a 12-month high of $84.53. The company has a market capitalization of $7.09 billion, a PE ratio of 13.75 and a beta of 1.13. The stock’s 50 day moving average price is $79.76 and its 200 day moving average price is $75.11.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. The firm had revenue of $6.47 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. On average, equities research analysts forecast that Arrow Electronics, Inc. will post $7.18 earnings per share for the current year.

In related news, SVP Gretchen Zech sold 9,781 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $77.34, for a total transaction of $756,462.54. Following the transaction, the senior vice president now directly owns 17,186 shares of the company’s stock, valued at approximately $1,329,165.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean J. Kerins sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $75.99, for a total value of $227,970.00. Following the transaction, the insider now directly owns 21,736 shares in the company, valued at $1,651,718.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,233 shares of company stock worth $2,148,561. 1.20% of the stock is currently owned by insiders.

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Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.

Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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