Arrow Electronics (NYSE:ARW) Issues Q2 Earnings Guidance

Arrow Electronics (NYSE:ARW) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.05-2.25 for the period, compared to the consensus EPS estimate of $2.60. The company issued revenue guidance of $6.20-6.80 billion, compared to the consensus revenue estimate of $7.25 billion.

Arrow Electronics Trading Up 1.8 %

Arrow Electronics stock opened at $124.89 on Friday. The stock has a market cap of $6.74 billion, a PE ratio of 9.82 and a beta of 1.39. The stock has a 50-day moving average price of $123.70 and a 200 day moving average price of $119.58. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $147.42. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.04. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.60 EPS. Equities research analysts predict that Arrow Electronics will post 11.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price objective on Arrow Electronics from $128.00 to $124.00 and set a hold rating for the company in a research report on Friday, February 9th.

Insider Transactions at Arrow Electronics

In related news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Yun Sung Cho sold 739 shares of the firm’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 completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock worth $488,795 in the last three months. Company insiders own 1.00% of the company’s stock.

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.