Arrow Electronics (NYSE:ARW) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Arrow Electronics (NYSE:ARW) announced its quarterly earnings data on Thursday. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04, Briefing.com reports. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.60 EPS. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Price Performance

NYSE ARW traded up $2.04 during mid-day trading on Friday, hitting $124.75. The stock had a trading volume of 542,271 shares, compared to its average volume of 539,762. The company has a 50 day simple moving average of $123.70 and a 200 day simple moving average of $119.56. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 7.90 and a beta of 1.39. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $147.42.

Analyst Ratings Changes

Separately, Truist Financial cut their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

Insider Buying and Selling at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s 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 sale, the senior vice president now directly owns 15,271 shares in the company, valued at $1,847,791. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,134 shares of company stock valued at $488,795. Insiders own 1.00% of the company’s stock.

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.