Arrow Electronics (NYSE:ARW) Posts Earnings Results, Beats Expectations By $0.04 EPS

Arrow Electronics (NYSE:ARW) announced its earnings results on Thursday. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04, Briefing.com reports. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.08 billion. During the same period last year, the company posted $4.60 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Price Performance

Shares of NYSE:ARW traded up $2.18 during midday trading on Friday, reaching $124.89. The company’s stock had a trading volume of 542,271 shares, compared to its average volume of 443,307. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The company has a market capitalization of $6.74 billion, a P/E ratio of 9.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.00. The business’s fifty day simple moving average is $123.70 and its 200-day simple moving average is $119.56.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered their target price on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a research note on Friday, February 9th.

Insider Activity

In related news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Richard John Marano sold 1,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the transaction, the insider now owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,134 shares of company stock worth $488,795. 1.00% of the stock is owned by corporate insiders.

Arrow Electronics Company Profile

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.