FY2017 EPS Estimates for Arrow Electronics, Inc. (ARW) Boosted by Analyst

Arrow Electronics, Inc. (NYSE:ARW) – Stock analysts at CLSA lifted their FY2017 earnings per share (EPS) estimates for shares of Arrow Electronics in a research note issued to investors on Wednesday. CLSA analyst L. Miscioscia now anticipates that the brokerage will earn $7.10 per share for the year, up from their prior estimate of $7.00. CLSA also issued estimates for Arrow Electronics’ FY2018 earnings at $7.55 EPS.

Other equities analysts have also issued research reports about the stock. Brean Capital set a $70.00 target price on shares of Arrow Electronics and gave the stock a “buy” rating in a research report on Sunday, November 6th. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Wednesday, January 11th. SunTrust Banks, Inc. lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating and increased their target price for the stock from $72.00 to $74.00 in a research report on Tuesday, January 3rd. Finally, reiterated an “outperform” rating on shares of Arrow Electronics in a research report on Friday, November 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.20.

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

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Shares of Arrow Electronics (NYSE:ARW) traded down 0.938% during midday trading on Friday, reaching $72.375. 72,894 shares of the company’s stock traded hands. Arrow Electronics has a 52-week low of $55.19 and a 52-week high of $74.67. The company has a 50 day moving average of $72.84 and a 200 day moving average of $67.24. The firm has a market cap of $6.44 billion, a PE ratio of 12.742 and a beta of 1.25.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. Arrow Electronics had a net margin of 2.19% and a return on equity of 13.73%. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the business earned $1.94 EPS. The company’s revenue was down 4.6% compared to the same quarter last year.

In other news, insider Mary Catherine Morris sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $67.78, for a total value of $542,240.00. Following the completion of the transaction, the insider now directly owns 22,166 shares in the company, valued at $1,502,411.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

“FY2017 EPS Estimates for Arrow Electronics, Inc. (ARW) Boosted by Analyst” was first posted by WKRB News and is the property of of WKRB News. If you are reading this article on another publication, it was stolen and reposted in violation of United States & international copyright law. The legal version of this article can be accessed at http://www.wkrb13.com/markets/1981499/fy2017-eps-estimates-for-arrow-electronics-inc-arw-boosted-by-analyst.html.

Institutional investors have recently added to or reduced their stakes in the stock. Pitcairn Co. raised its position in Arrow Electronics by 0.3% in the fourth quarter. Pitcairn Co. now owns 3,536 shares of the company’s stock worth $252,000 after buying an additional 10 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Arrow Electronics by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,086 shares of the company’s stock worth $376,000 after buying an additional 87 shares during the period. Dean Investment Associates LLC raised its position in Arrow Electronics by 1.3% in the third quarter. Dean Investment Associates LLC now owns 7,904 shares of the company’s stock worth $506,000 after buying an additional 100 shares during the period. Calvert Investment Management Inc. raised its position in Arrow Electronics by 2.1% in the second quarter. Calvert Investment Management Inc. now owns 5,055 shares of the company’s stock worth $313,000 after buying an additional 106 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in Arrow Electronics by 1.4% in the third quarter. First Citizens Bank & Trust Co. now owns 8,704 shares of the company’s stock worth $557,000 after buying an additional 118 shares during the period. Institutional investors own 93.74% of the company’s stock.

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 electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

5 Day Chart for NYSE:ARW

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