Arrow Electronics (NYSE:ARW) Issues Q2 Earnings Guidance

Arrow Electronics (NYSE:ARW) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $2.05-2.25 for the period, compared to the consensus EPS estimate of $2.60. The company issued revenue guidance of $6.20-6.80 billion, compared to the consensus revenue estimate of $7.25 billion.

Arrow Electronics Stock Performance

NYSE:ARW opened at $124.89 on Friday. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $147.42. The firm has a 50 day moving average of $123.70 and a 200-day moving average of $119.58. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.74 billion, a P/E ratio of 9.82 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.04. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. During the same quarter in the previous year, the company posted $4.60 EPS. Arrow Electronics’s revenue was down 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Arrow Electronics will post 11.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now owns 1,389 shares in the company, valued at approximately $162,818.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders sold 4,134 shares of company stock worth $488,795 in the last quarter. 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.