$7.72 Billion in Sales Expected for Arrow Electronics, Inc. (ARW) This Quarter

Brokerages expect Arrow Electronics, Inc. (NYSE:ARW) to announce sales of $7.72 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Arrow Electronics’ earnings, with the highest sales estimate coming in at $7.74 billion and the lowest estimate coming in at $7.70 billion. Arrow Electronics reported sales of $7.39 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that Arrow Electronics will report full-year sales of $30.70 billion for the current financial year, with estimates ranging from $30.48 billion to $31.04 billion. For the next financial year, analysts forecast that the firm will post sales of $31.02 billion, with estimates ranging from $30.18 billion to $31.98 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.06). The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $6.96 billion. Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share.

Several research analysts have recently issued reports on ARW shares. SunTrust Banks upped their price objective on Arrow Electronics to $84.00 and gave the stock a “hold” rating in a research report on Friday, February 8th. Stifel Nicolaus downgraded Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price for the company. in a research note on Friday, February 1st. Bank of America downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective for the company. in a research note on Monday, May 6th. ValuEngine cut Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $83.21.

NYSE:ARW traded up $0.30 on Tuesday, reaching $65.26. The company’s stock had a trading volume of 511,482 shares, compared to its average volume of 563,453. Arrow Electronics has a 12-month low of $62.69 and a 12-month high of $86.62. The company has a quick ratio of 1.21, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $5.53 billion, a P/E ratio of 7.39, a P/E/G ratio of 2.99 and a beta of 1.16.

In related news, insider Sean J. Kerins sold 5,286 shares of Arrow Electronics stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $81.64, for a total transaction of $431,549.04. Following the completion of the sale, the insider now owns 35,955 shares of the company’s stock, valued at approximately $2,935,366.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Long sold 25,835 shares of Arrow Electronics stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $82.19, for a total transaction of $2,123,378.65. Following the sale, the chief executive officer now directly owns 381,028 shares of the company’s stock, valued at approximately $31,316,691.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,164 shares of company stock worth $2,722,270. Insiders own 1.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new stake in shares of Arrow Electronics during the 4th quarter worth about $31,000. Lindbrook Capital LLC bought a new stake in shares of Arrow Electronics during the 4th quarter worth about $37,000. JOYN Advisors Inc. boosted its holdings in shares of Arrow Electronics by 317.8% during the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock worth $42,000 after buying an additional 464 shares during the period. Fort L.P. bought a new stake in shares of Arrow Electronics during the 1st quarter worth about $51,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Arrow Electronics during the 1st quarter worth about $55,000. 92.36% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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