Arrow Electronics (ARW) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS
Arrow Electronics (NYSE:ARW) announced its earnings results on Tuesday. The technology company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.21, Bloomberg Earnings reports. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.46 billion. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. Arrow Electronics updated its Q1 guidance to $1.74-1.86 EPS.
Arrow Electronics (ARW) opened at $79.62 on Thursday. The firm has a market cap of $6,903.62, a price-to-earnings ratio of 17.81, a PEG ratio of 0.83 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.56 and a debt-to-equity ratio of 0.59. Arrow Electronics has a 52 week low of $69.67 and a 52 week high of $87.26.
In related news, insider Sean J. Kerins sold 3,816 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $78.87, for a total value of $300,967.92. Following the sale, the insider now directly owns 25,552 shares of the company’s stock, valued at $2,015,286.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matthew R. Anderson sold 1,416 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.00, for a total transaction of $111,864.00. Following the completion of the sale, the senior vice president now directly owns 1,416 shares in the company, valued at $111,864. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd.
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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. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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