Arrow Electronics, Inc. to Post Q4 2017 Earnings of $2.29 Per Share, SunTrust Banks Forecasts (ARW)
Arrow Electronics, Inc. (NYSE:ARW) – Analysts at SunTrust Banks lifted their Q4 2017 earnings per share (EPS) estimates for Arrow Electronics in a research report issued on Friday. SunTrust Banks analyst W. Stein now anticipates that the technology company will post earnings of $2.29 per share for the quarter, up from their previous estimate of $2.26. SunTrust Banks also issued estimates for Arrow Electronics’ Q3 2018 earnings at $2.00 EPS.
Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, November 2nd. The technology company reported $1.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.82. Arrow Electronics had a return on equity of 13.63% and a net margin of 2.00%. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period last year, the business posted $1.56 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis.
ARW has been the subject of a number of other reports. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Monday, September 11th. BidaskClub downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $81.00 price target (up from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.25.
Arrow Electronics (NYSE:ARW) traded up $0.19 during trading hours on Monday, reaching $78.30. The company’s stock had a trading volume of 61,819 shares, compared to its average volume of 416,118. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.57. Arrow Electronics has a twelve month low of $59.87 and a twelve month high of $84.53. The stock has a market capitalization of $6,910.00, a P/E ratio of 11.07, a P/E/G ratio of 1.00 and a beta of 1.20.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its position in shares of Arrow Electronics by 489.5% in the second quarter. Advisory Services Network LLC now owns 1,409 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,170 shares in the last quarter. Advisor Group Inc. grew its position in Arrow Electronics by 76.1% during the third quarter. Advisor Group Inc. now owns 1,819 shares of the technology company’s stock worth $145,000 after buying an additional 786 shares in the last quarter. NEXT Financial Group Inc grew its position in Arrow Electronics by 776.0% during the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after buying an additional 1,940 shares in the last quarter. Paragon Capital Management Ltd purchased a new position in Arrow Electronics during the third quarter worth about $201,000. Finally, Advisor Partners LLC grew its position in Arrow Electronics by 2.6% during the second quarter. Advisor Partners LLC now owns 2,802 shares of the technology company’s stock worth $220,000 after buying an additional 71 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.
In other news, insider Sean J. Kerins sold 4,477 shares of Arrow Electronics stock in a transaction on Friday, August 25th. The stock was sold at an average price of $77.16, for a total value of $345,445.32. Following the completion of the transaction, the insider now directly owns 26,213 shares in the company, valued at $2,022,595.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction on Monday, August 14th. The shares were sold at an average price of $76.01, for a total value of $1,589,369.10. Following the completion of the transaction, the chairman now owns 346,486 shares of the company’s stock, valued at $26,336,400.86. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
Arrow Electronics Company Profile
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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