Arrow Electronics (NYSE:ARW) Releases Q2 Earnings Guidance

Arrow Electronics (NYSE:ARW) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.05-2.25 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price 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.

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $124.77 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42. The firm has a 50-day simple moving average of $123.41 and a 200 day simple moving average of $119.48. The company has a market cap of $6.74 billion, a PE ratio of 7.90 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.26. Arrow Electronics had a net margin of 2.73% and a return on equity of 17.22%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the firm earned $5.69 EPS. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Arrow Electronics will post 11.53 EPS for the current year.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction dated 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 directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the transaction, the insider now owns 12,108 shares in the company, valued at $1,410,097.68. The disclosure for this sale can be found here. Insiders sold 4,134 shares of company stock valued at $488,795 in the last ninety days. Company 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.