Brokerages expect Arrow Electronics, Inc. (NYSE:ARW) to announce $7.04 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Arrow Electronics’ earnings, with the lowest sales estimate coming in at $7.04 billion and the highest estimate coming in at $7.05 billion. Arrow Electronics reported sales of $7.49 billion in the same quarter last year, which indicates a negative year over year growth rate of 6%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $28.96 billion for the current fiscal year, with estimates ranging from $28.92 billion to $29.03 billion. For the next financial year, analysts anticipate that the company will post sales of $28.56 billion, with estimates ranging from $28.37 billion to $28.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Arrow Electronics.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.56 by $0.04. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.29 billion. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share.

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Arrow Electronics from $68.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus lowered their price objective on Arrow Electronics from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Wednesday, July 3rd. TheStreet lowered Arrow Electronics from a “b-” rating to a “c” rating in a research note on Friday, August 2nd. Finally, Cross Research lowered Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Arrow Electronics currently has a consensus rating of “Hold” and an average target price of $77.02.

In other news, CFO Christopher Stansbury sold 57,550 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $68.87, for a total value of $3,963,468.50. Following the transaction, the chief financial officer now directly owns 32,481 shares in the company, valued at $2,236,966.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Kostalnick II sold 3,200 shares of Arrow Electronics stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $68.11, for a total value of $217,952.00. Following the completion of the sale, the insider now directly owns 8,214 shares in the company, valued at $559,455.54. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ARW. Advisory Services Network LLC boosted its stake in shares of Arrow Electronics by 199.5% during the 2nd quarter. Advisory Services Network LLC now owns 608 shares of the technology company’s stock worth $43,000 after acquiring an additional 405 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Arrow Electronics by 92.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 672 shares of the technology company’s stock worth $48,000 after acquiring an additional 322 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Arrow Electronics in the first quarter worth $55,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Arrow Electronics during the 2nd quarter worth $66,000. Finally, Signaturefd LLC lifted its position in shares of Arrow Electronics by 22.0% during the 1st quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $100,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

ARW stock traded down $0.03 on Wednesday, reaching $76.59. 11,235 shares of the company were exchanged, compared to its average volume of 499,143. The firm has a market capitalization of $6.34 billion, a PE ratio of 8.68, a PEG ratio of 2.50 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.64 and a quick ratio of 1.15. The stock’s fifty day moving average price is $69.94 and its 200 day moving average price is $73.02. Arrow Electronics has a 12 month low of $62.35 and a 12 month high of $86.62.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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