Brokerages Anticipate Arrow Electronics, Inc. (NYSE:ARW) to Announce $1.67 Earnings Per Share

Equities research analysts expect Arrow Electronics, Inc. (NYSE:ARW) to announce earnings of $1.67 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Arrow Electronics’ earnings, with estimates ranging from $1.66 to $1.68. Arrow Electronics posted earnings per share of $2.18 in the same quarter last year, which suggests a negative year over year growth rate of 23.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

On average, analysts expect that Arrow Electronics will report full year earnings of $7.25 per share for the current year, with EPS estimates ranging from $7.12 to $7.38. For the next year, analysts anticipate that the company will post earnings of $7.94 per share, with EPS estimates ranging from $7.37 to $8.26. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the business posted $2.20 earnings per share. Arrow Electronics’s revenue was down .6% compared to the same quarter last year.

ARW has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 target price on the stock. in a report on Wednesday, July 3rd. Citigroup raised their target price on shares of Arrow Electronics from $68.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank initiated coverage on shares of Arrow Electronics in a report on Tuesday, June 11th. They issued a “buy” rating and a $83.00 target price on the stock. Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 16th. Finally, Raymond James lowered shares of Arrow Electronics from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $88.00 to $80.00 in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $77.02.

In other Arrow Electronics news, insider Charles Kostalnick II sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $68.11, for a total value of $217,952.00. Following the transaction, the insider now directly owns 8,214 shares of the company’s stock, valued at approximately $559,455.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in ARW. Longview Partners Guernsey LTD grew its holdings in shares of Arrow Electronics by 21.8% during the 2nd quarter. Longview Partners Guernsey LTD now owns 3,511,592 shares of the technology company’s stock valued at $250,271,000 after purchasing an additional 627,865 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Arrow Electronics by 6,311.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 262,917 shares of the technology company’s stock worth $18,738,000 after buying an additional 258,816 shares during the period. AQR Capital Management LLC boosted its position in Arrow Electronics by 14.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,924,295 shares of the technology company’s stock worth $135,855,000 after buying an additional 240,829 shares during the period. Bank of Montreal Can boosted its position in Arrow Electronics by 312.7% during the 2nd quarter. Bank of Montreal Can now owns 296,385 shares of the technology company’s stock worth $21,123,000 after buying an additional 224,572 shares during the period. Finally, BlackRock Inc. boosted its position in Arrow Electronics by 1.8% during the 2nd quarter. BlackRock Inc. now owns 8,787,733 shares of the technology company’s stock worth $626,303,000 after buying an additional 159,524 shares during the period. 95.48% of the stock is currently owned by institutional investors.

ARW stock opened at $69.13 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.64 and a debt-to-equity ratio of 0.65. Arrow Electronics has a 12 month low of $62.35 and a 12 month high of $86.62. The firm has a market cap of $5.75 billion, a P/E ratio of 7.83, a P/E/G ratio of 2.20 and a beta of 1.39. The company’s 50-day moving average price is $69.35 and its two-hundred day moving average price is $74.07.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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

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