Arrow Electronics (NYSE:ARW) Updates Q1 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Free Report) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.20-2.40 for the period, compared to the consensus earnings per share estimate of $2.85. The company issued revenue guidance of $6.70-7.30 billion, compared to the consensus revenue estimate of $7.20 billion. Arrow Electronics also updated its Q1 2024 guidance to 2.200-2.400 EPS.

Arrow Electronics Stock Performance

NYSE:ARW opened at $111.31 on Friday. The business’s 50-day moving average price is $117.67 and its two-hundred day moving average price is $122.04. Arrow Electronics has a twelve month low of $108.77 and a twelve month high of $147.42. The stock has a market cap of $6.03 billion, a P/E ratio of 7.05 and a beta of 1.40. The company has a quick ratio of 0.96, a current ratio of 1.39 and a debt-to-equity ratio of 0.37.

Arrow Electronics (NYSE:ARWGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.26. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter last year, the firm posted $5.69 EPS. The company’s revenue was down 15.8% compared to the same quarter last year. As a group, equities analysts predict that Arrow Electronics will post 14.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARW shares. 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. StockNews.com cut Arrow Electronics from a buy rating to a hold rating in a report on Wednesday, December 13th.

Check Out Our Latest Analysis on ARW

Hedge Funds Weigh In On Arrow Electronics

A number of large investors have recently modified their holdings of ARW. Brown Brothers Harriman & Co. bought a new position in Arrow Electronics during the 1st quarter worth approximately $52,000. Gladius Capital Management LP grew its position in Arrow Electronics by 27.1% during the 3rd quarter. Gladius Capital Management LP now owns 441 shares of the technology company’s stock worth $55,000 after acquiring an additional 94 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Arrow Electronics during the 2nd quarter worth approximately $72,000. Steward Partners Investment Advisory LLC grew its position in Arrow Electronics by 34.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 837 shares of the technology company’s stock worth $88,000 after acquiring an additional 213 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Arrow Electronics during the 3rd quarter worth approximately $89,000. 94.79% of the stock is owned by hedge funds and other institutional investors.

About Arrow Electronics

(Get Free Report)

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.

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