Arrow Electronics (NYSE:ARW) Issues Q3 Earnings Guidance

Arrow Electronics (NYSE:ARW) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $2.10-$2.30 for the period, compared to the consensus EPS estimate of $2.44. The company issued revenue guidance of $6.37-$6.97 billion, compared to the consensus revenue estimate of $6.69 billion.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on Arrow Electronics from $116.00 to $132.00 and gave the company a neutral rating in a report on Tuesday, May 28th.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock opened at $123.68 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.58 billion, a PE ratio of 9.72 and a beta of 1.27. The business’s 50-day moving average price is $125.78 and its 200-day moving average price is $122.76. Arrow Electronics has a 12 month low of $108.51 and a 12 month high of $143.41.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.37 by $0.04. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company’s revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.60 EPS. Sell-side analysts forecast that Arrow Electronics will post 10.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrew Charles Kerin sold 1,469 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $130.71, for a total transaction of $192,012.99. Following the transaction, the director now directly owns 1,520 shares of the company’s stock, valued at $198,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gail Hamilton sold 2,987 shares of Arrow Electronics stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $132.59, for a total transaction of $396,046.33. Following the sale, the director now directly owns 102 shares in the company, valued at $13,524.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Charles Kerin sold 1,469 shares of Arrow Electronics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $130.71, for a total value of $192,012.99. Following the sale, the director now owns 1,520 shares in the company, valued at $198,679.20. The disclosure for this sale can be found here. Insiders have sold 5,976 shares of company stock valued at $788,183 in the last ninety days. Company insiders own 1.00% of the company’s stock.

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.