Equities analysts expect Arrow Electronics, Inc. (NYSE:ARW) to report $7.04 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Arrow Electronics’ earnings. The lowest sales estimate is $7.04 billion and the highest is $7.05 billion. Arrow Electronics posted sales of $7.49 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 6%. The company is expected to issue its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Arrow Electronics will report full-year sales of $28.96 billion for the current year, with estimates ranging from $28.92 billion to $29.03 billion. For the next fiscal year, analysts anticipate that the company will report sales of $28.56 billion, with estimates ranging from $28.37 billion to $28.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.56 by $0.04. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the company posted $2.20 earnings per share. The business’s revenue was down .6% on a year-over-year basis.
ARW stock traded up $0.97 during trading on Friday, reaching $73.16. The company had a trading volume of 530,617 shares, compared to its average volume of 601,042. Arrow Electronics has a 52 week low of $62.35 and a 52 week high of $86.62. The company has a market cap of $6.05 billion, a P/E ratio of 8.29, a PEG ratio of 10.03 and a beta of 1.36. The business has a 50 day moving average of $72.38 and a 200 day moving average of $72.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.64 and a quick ratio of 1.15.
In other Arrow Electronics news, CFO Christopher Stansbury sold 57,550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $68.87, for a total value of $3,963,468.50. Following the sale, the chief financial officer now owns 32,481 shares in the company, valued at $2,236,966.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Kostalnick II sold 3,200 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $68.11, for a total transaction of $217,952.00. Following the completion of the sale, the insider now owns 8,214 shares in the company, valued at approximately $559,455.54. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Arrow Electronics by 140.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,350 shares of the technology company’s stock worth $3,874,000 after purchasing an additional 31,775 shares during the period. Andra AP fonden purchased a new stake in Arrow Electronics in the first quarter worth about $6,820,000. Prudential Financial Inc. grew its holdings in Arrow Electronics by 35.7% in the second quarter. Prudential Financial Inc. now owns 537,634 shares of the technology company’s stock worth $38,318,000 after purchasing an additional 141,520 shares during the period. Pictet Asset Management Ltd. grew its holdings in Arrow Electronics by 6.1% in the second quarter. Pictet Asset Management Ltd. now owns 119,008 shares of the technology company’s stock worth $8,482,000 after purchasing an additional 6,859 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Arrow Electronics by 19.9% in the second quarter. Cubist Systematic Strategies LLC now owns 15,840 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 2,626 shares during the period. Institutional investors and hedge funds own 94.69% 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 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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