Zacks: Brokerages Expect Arrow Electronics, Inc. (ARW) Will Post Earnings of $1.81 Per Share
Equities research analysts expect Arrow Electronics, Inc. (NYSE:ARW) to announce earnings per share of $1.81 for the current quarter, Zacks reports. Four analysts have made estimates for Arrow Electronics’ earnings, with the highest EPS estimate coming in at $1.82 and the lowest estimate coming in at $1.80. Arrow Electronics reported earnings per share of $1.56 in the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The business is expected to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Arrow Electronics will report full year earnings of $7.30 per share for the current fiscal year, with EPS estimates ranging from $7.26 to $7.33. For the next financial year, analysts forecast that the business will report earnings of $8.04 per share, with EPS estimates ranging from $7.90 to $8.12. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Arrow Electronics.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 previous year, the business earned $1.65 EPS. Arrow Electronics’s quarterly revenue was up 8.3% on a year-over-year basis.
ARW has been the subject of a number of research reports. BidaskClub downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Arrow Electronics has a consensus rating of “Buy” and an average target price of $76.40.
In other news, insider Vincent P. Melvin sold 5,760 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.79, for a total transaction of $436,550.40. Following the completion of the transaction, the insider now directly owns 22,213 shares of the company’s stock, valued at approximately $1,683,523.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mary Catherine Morris sold 9,692 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $75.07, for a total transaction of $727,578.44. Following the transaction, the insider now directly owns 21,570 shares of the company’s stock, valued at $1,619,259.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,452 shares of company stock valued at $1,392,099. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Arrow Electronics by 70.4% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock worth $328,000 after buying an additional 1,900 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of Arrow Electronics by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 31,061 shares of the technology company’s stock worth $2,280,000 after buying an additional 520 shares during the period. Bank of Montreal Can boosted its position in shares of Arrow Electronics by 0.9% in the first quarter. Bank of Montreal Can now owns 20,373 shares of the technology company’s stock worth $1,495,000 after buying an additional 181 shares during the period. Regentatlantic Capital LLC boosted its position in shares of Arrow Electronics by 5.3% in the first quarter. Regentatlantic Capital LLC now owns 42,843 shares of the technology company’s stock worth $3,145,000 after buying an additional 2,144 shares during the period. Finally, CrestPoint Capital Management LLC boosted its position in shares of Arrow Electronics by 2.1% in the first quarter. CrestPoint Capital Management LLC now owns 9,800 shares of the technology company’s stock worth $719,000 after buying an additional 200 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.
Arrow Electronics (NYSE ARW) traded down 0.969% during midday trading on Wednesday, reaching $77.135. The company’s stock had a trading volume of 55,725 shares. The firm has a market capitalization of $6.85 billion, a P/E ratio of 13.285 and a beta of 1.13. Arrow Electronics has a 52 week low of $58.52 and a 52 week high of $84.53. The company’s 50-day moving average is $80.08 and its 200 day moving average is $75.23.
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About Arrow Electronics
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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