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 earnings per share guidance of $2.05-2.25 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

Arrow Electronics Stock Performance

Shares of ARW opened at $124.89 on Friday. The stock has a 50-day moving average of $123.70 and a two-hundred day moving average of $119.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.49. The stock has a market cap of $6.74 billion, a P/E ratio of 9.82 and a beta of 1.39. Arrow Electronics has a one year low of $108.51 and a one year high of $147.42.

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

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of Arrow Electronics 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 completion of the transaction, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock worth $488,795 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

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.