Arrow Electronics (ARW) to Release Earnings on Thursday

Arrow Electronics (NYSE:ARW) will be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $2.31 per share for the quarter. Arrow Electronics has set its Q1 guidance at $2.20-2.40 EPS and its Q1 2024 guidance at 2.200-2.400 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter last year, the business earned $5.69 earnings per share. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, analysts expect Arrow Electronics to post $12 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded down $0.02 during mid-day trading on Tuesday, reaching $128.76. 3,111 shares of the stock traded hands, compared to its average volume of 521,240. The stock has a market capitalization of $6.95 billion, a PE ratio of 8.16 and a beta of 1.41. The business has a 50-day moving average of $122.96 and a 200 day moving average of $119.35. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37.

Insider Activity at Arrow Electronics

In other news, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the sale, the insider now owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,134 shares of company stock valued at $488,795. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a report on Friday, February 9th.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.