Wall Street brokerages predict that Arrow Electronics, Inc. (NYSE:ARW) will post earnings of $3.52 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Arrow Electronics’ earnings, with estimates ranging from $3.51 to $3.55. Arrow Electronics reported earnings of $2.08 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 69.2%. The firm is expected to issue its next earnings results on Thursday, November 4th.
According to Zacks, analysts expect that Arrow Electronics will report full year earnings of $13.51 per share for the current fiscal year, with EPS estimates ranging from $13.30 to $13.75. For the next fiscal year, analysts expect that the firm will post earnings of $14.26 per share, with EPS estimates ranging from $14.12 to $14.50. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, August 5th. The technology company reported $3.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.38. Arrow Electronics had a return on equity of 17.03% and a net margin of 2.60%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year.
NYSE ARW traded up $0.71 during trading hours on Friday, hitting $112.94. 4,554 shares of the company’s stock were exchanged, compared to its average volume of 478,828. The business’s 50 day moving average is $116.33 and its 200-day moving average is $114.88. Arrow Electronics has a 12-month low of $75.27 and a 12-month high of $124.76. The firm has a market capitalization of $8.11 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 0.34 and a beta of 1.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.04 and a current ratio of 1.44.
Arrow Electronics declared that its board has approved a share repurchase program on Thursday, August 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Arrow Electronics news, SVP Gretchen Zech sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $122.91, for a total transaction of $983,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 4,119 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $117.47, for a total value of $483,858.93. Following the sale, the senior vice president now owns 11,909 shares of the company’s stock, valued at approximately $1,398,950.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,929 shares of company stock worth $4,331,764. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Arrow Electronics by 0.3% during the 2nd quarter. BlackRock Inc. now owns 8,235,816 shares of the technology company’s stock worth $937,482,000 after buying an additional 28,052 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Arrow Electronics by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,252,133 shares of the technology company’s stock worth $825,510,000 after buying an additional 62,696 shares during the last quarter. State Street Corp lifted its holdings in Arrow Electronics by 4.6% during the 2nd quarter. State Street Corp now owns 3,189,737 shares of the technology company’s stock worth $363,088,000 after buying an additional 139,909 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Arrow Electronics by 0.4% during the 1st quarter. AQR Capital Management LLC now owns 3,056,127 shares of the technology company’s stock worth $338,680,000 after buying an additional 10,991 shares during the last quarter. Finally, Lyrical Asset Management LP lifted its holdings in Arrow Electronics by 6.1% during the 1st quarter. Lyrical Asset Management LP now owns 1,816,015 shares of the technology company’s stock worth $201,251,000 after buying an additional 104,546 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
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