Wall Street analysts forecast that Arrow Electronics (NYSE:ARW) will post sales of $6.63 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Arrow Electronics’ earnings. The highest sales estimate is $6.66 billion and the lowest is $6.60 billion. Arrow Electronics reported sales of $5.76 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.1%. The company is expected to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Arrow Electronics will report full-year sales of $28.59 billion for the current year, with estimates ranging from $28.46 billion to $28.71 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $29.31 billion per share, with estimates ranging from $28.88 billion to $29.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Arrow Electronics.
Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.21. Arrow Electronics had a net margin of 1.50% and a return on equity of 14.12%. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.46 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis.
In related news, insider Vincent P. Melvin sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $82.64, for a total value of $258,250.00. Following the transaction, the insider now directly owns 18,371 shares in the company, valued at $1,518,179.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mary Catherine Morris sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $82.43, for a total transaction of $292,214.35. Following the completion of the transaction, the insider now owns 20,742 shares in the company, valued at $1,709,763.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,113 shares of company stock worth $4,898,398. 1.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ARW. SG Americas Securities LLC increased its position in shares of Arrow Electronics by 768.9% in the third quarter. SG Americas Securities LLC now owns 3,425 shares of the technology company’s stock worth $275,000 after purchasing an additional 3,937 shares during the last quarter. Stifel Financial Corp grew its position in Arrow Electronics by 44.9% during the third quarter. Stifel Financial Corp now owns 13,919 shares of the technology company’s stock valued at $1,121,000 after acquiring an additional 4,311 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Arrow Electronics by 2,735.7% during the third quarter. Envestnet Asset Management Inc. now owns 8,734 shares of the technology company’s stock valued at $702,000 after acquiring an additional 8,426 shares during the last quarter. Janus Henderson Group PLC grew its position in Arrow Electronics by 32.3% during the third quarter. Janus Henderson Group PLC now owns 25,478 shares of the technology company’s stock valued at $2,049,000 after acquiring an additional 6,218 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Arrow Electronics by 2.6% during the third quarter. California Public Employees Retirement System now owns 286,260 shares of the technology company’s stock valued at $23,018,000 after acquiring an additional 7,295 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.
Shares of Arrow Electronics stock opened at $77.03 on Tuesday. Arrow Electronics has a 12-month low of $70.13 and a 12-month high of $87.26. The stock has a market capitalization of $6,686.98, a PE ratio of 10.19, a PEG ratio of 0.89 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.15 and a debt-to-equity ratio of 0.59.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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