Arrow Electronics (NYSE:ARW) Updates Q4 2024 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.480-2.680 for the period, compared to the consensus estimate of 3.420. The company issued revenue guidance of $6.7 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Arrow Electronics also updated its Q4 guidance to $2.48-2.68 EPS.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Raymond James upped their target price on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial lifted their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $130.75.

Read Our Latest Stock Analysis on ARW

Arrow Electronics Stock Down 11.5 %

Shares of ARW traded down $15.64 during mid-day trading on Thursday, reaching $120.16. The company’s stock had a trading volume of 279,292 shares, compared to its average volume of 461,747. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 11.36 and a beta of 1.26. The business has a fifty day moving average of $131.73 and a 200 day moving average of $128.17.

Arrow Electronics (NYSE:ARWGet Free Report) last released its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.62. The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.37 EPS. As a group, analysts forecast that Arrow Electronics will post 10.74 earnings per share for the current fiscal year.

About Arrow Electronics

(Get Free Report)

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.

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

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