Arrow Electronics (ARW) to Release Quarterly Earnings on Thursday

Arrow Electronics (NYSE:ARW) is scheduled to be releasing its earnings data before the market opens on Thursday, May 2nd. Analysts expect Arrow Electronics to post 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.Individual interested in participating in the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.26. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.84 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. Arrow Electronics’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.69 earnings per share. 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 Stock Performance

ARW opened at $127.58 on Thursday. The company’s 50 day moving average is $121.78 and its 200 day moving average is $119.08. The company has a current ratio of 1.39, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 8.07 and a beta of 1.41. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $147.42.

Insiders Place Their Bets

In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The disclosure for this sale can be found here. Insiders sold a total of 4,134 shares of company stock worth $488,795 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note 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.