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

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

Arrow Electronics Trading Up 1.8 %

NYSE ARW traded up $2.18 during trading hours on Friday, reaching $124.89. The company had a trading volume of 542,271 shares, compared to its average volume of 443,307. The stock has a 50-day moving average of $123.70 and a 200 day moving average of $119.56. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.74 billion, a P/E ratio of 9.81 and a beta of 1.39.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the sale, the chief accounting officer now owns 1,389 shares of the company’s stock, valued at $162,818.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock valued at $488,795 over the last 90 days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Truist Financial decreased their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research report on Friday, February 9th.

Arrow Electronics Company Profile

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.