Arrow Electronics (NYSE:ARW) Issues Q4 2024 Earnings Guidance

Arrow Electronics (NYSE:ARW) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.480-2.680 for the period, compared to the consensus EPS estimate of 3.420. The company issued revenue guidance of $6.7 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Arrow Electronics also updated its Q4 guidance to $2.48-2.68 EPS.

Arrow Electronics Trading Up 2.0 %

Shares of ARW traded up $2.36 during mid-day trading on Friday, reaching $121.03. The company’s stock had a trading volume of 675,405 shares, compared to its average volume of 467,028. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80. The stock has a market cap of $6.41 billion, a PE ratio of 13.51 and a beta of 1.27. The company’s fifty day moving average price is $131.33 and its two-hundred day moving average price is $128.18. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.14 earnings per share. On average, analysts predict that Arrow Electronics will post 10.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARW has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Truist Financial reduced their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Raymond James decreased their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.25.

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.