Arrow Electronics, Inc. (ARW) Expected to Earn FY2017 Earnings of $7.30 Per Share
Arrow Electronics, Inc. (NYSE:ARW) – Equities researchers at SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for shares of Arrow Electronics in a report released on Thursday. SunTrust Banks analyst W. Stein now expects that the technology company will post earnings per share of $7.30 for the year, up from their prior forecast of $7.02. SunTrust Banks also issued estimates for Arrow Electronics’ Q4 2017 earnings at $2.26 EPS, Q2 2018 earnings at $1.99 EPS, Q3 2018 earnings at $1.94 EPS, Q4 2018 earnings at $2.41 EPS and FY2018 earnings at $8.04 EPS.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The company had revenue of $6.47 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “Arrow Electronics, Inc. (ARW) Expected to Earn FY2017 Earnings of $7.30 Per Share” was first posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/07/arrow-electronics-inc-arw-expected-to-earn-fy2017-earnings-of-7-30-per-share.html.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus lifted their price target on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, May 5th. Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Finally, BidaskClub lowered Arrow Electronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.40.
In related news, insider Sean J. Kerins sold 3,000 shares of Arrow Electronics stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.99, for a total value of $227,970.00. Following the sale, the insider now directly owns 21,736 shares in the company, valued at approximately $1,651,718.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Gretchen Zech sold 9,781 shares of Arrow Electronics stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $77.34, for a total value of $756,462.54. Following the completion of the sale, the senior vice president now owns 17,186 shares in the company, valued at $1,329,165.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,233 shares of company stock worth $2,148,561. 1.20% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the company. Advisor Partners LLC boosted its stake in Arrow Electronics by 2.6% in the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock valued at $220,000 after buying an additional 71 shares during the last quarter. Breton Hill Capital Ltd. boosted its stake in Arrow Electronics by 2.6% in the second quarter. Breton Hill Capital Ltd. now owns 3,900 shares of the technology company’s stock valued at $306,000 after buying an additional 100 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Arrow Electronics by 1.9% in the first quarter. Suntrust Banks Inc. now owns 7,459 shares of the technology company’s stock valued at $547,000 after buying an additional 140 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Arrow Electronics by 0.8% in the first quarter. Brandes Investment Partners LP now owns 20,206 shares of the technology company’s stock valued at $1,484,000 after buying an additional 155 shares during the last quarter. Finally, Aviance Capital Partners LLC boosted its stake in Arrow Electronics by 0.7% in the second quarter. Aviance Capital Partners LLC now owns 22,016 shares of the technology company’s stock valued at $1,726,000 after buying an additional 160 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.
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.
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