Arrow Electronics (NYSE:ARW) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Arrow Electronics (NYSE:ARW) posted its quarterly earnings results on Thursday. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.04, Briefing.com reports. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Stock Performance

Shares of ARW traded up $2.18 during midday trading on Friday, reaching $124.89. 542,271 shares of the stock were exchanged, compared to its average volume of 443,307. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 9.82 and a beta of 1.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.00. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $147.42. The business’s 50-day moving average price is $123.70 and its 200 day moving average price is $119.58.

Analyst Ratings Changes

Separately, Truist Financial lowered their price target on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a 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 business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total transaction of $221,274.00. Following the transaction, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics 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 transaction, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock worth $488,795 in the last quarter. 1.00% of the stock is owned by insiders.

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.