Arrow Electronics Inc. (NYSE:ARW) – Research analysts at SunTrust Banks cut their FY2016 earnings per share (EPS) estimates for shares of Arrow Electronics in a report released on Tuesday. SunTrust Banks analyst W. Stein now forecasts that the firm will earn $6.62 per share for the year, down from their previous estimate of $6.63. SunTrust Banks also issued estimates for Arrow Electronics’ Q1 2017 earnings at $1.45 EPS, Q4 2017 earnings at $2.15 EPS, Q1 2018 earnings at $1.59 EPS, Q2 2018 earnings at $1.87 EPS, Q3 2018 earnings at $1.82 EPS and FY2018 earnings at $7.56 EPS.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.86 billion. Arrow Electronics had a return on equity of 13.95% and a net margin of 2.14%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share.

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

Several other analysts have also recently weighed in on the company. Citigroup Inc. raised their price target on Arrow Electronics from $48.00 to $57.00 and gave the company a “sell” rating in a report on Wednesday, August 3rd. Brean Capital set a $70.00 price target on Arrow Electronics and gave the company a “buy” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. cut Arrow Electronics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $63.00 in a report on Tuesday, September 20th. Finally, Credit Agricole SA reaffirmed an “outperform” rating on shares of Arrow Electronics in a report on Friday, November 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $63.33.

Arrow Electronics (NYSE:ARW) opened at 66.25 on Wednesday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 11.91 and a beta of 1.23. The company has a 50 day moving average price of $62.61 and a 200-day moving average price of $63.70. Arrow Electronics has a 1-year low of $45.23 and a 1-year high of $68.07.

In related news, insider Sean J. Kerins sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $62.00, for a total transaction of $248,000.00. Following the transaction, the insider now directly owns 20,609 shares in the company, valued at approximately $1,277,758. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Michael J. Long sold 44,777 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $66.35, for a total value of $2,970,953.95. Following the transaction, the chairman now owns 308,393 shares in the company, valued at $20,461,875.55. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ARW. Synovus Financial Corp raised its position in Arrow Electronics by 0.6% in the second quarter. Synovus Financial Corp now owns 4,479 shares of the company’s stock valued at $280,000 after buying an additional 25 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Arrow Electronics by 0.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,847 shares of the company’s stock valued at $795,000 after buying an additional 42 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Arrow Electronics by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,086 shares of the company’s stock valued at $376,000 after buying an additional 87 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Arrow Electronics by 0.3% in the second quarter. Pictet Asset Management Ltd. now owns 31,800 shares of the company’s stock valued at $2,055,000 after buying an additional 100 shares during the last quarter. Finally, Dean Investment Associates LLC raised its position in Arrow Electronics by 1.3% in the third quarter. Dean Investment Associates LLC now owns 7,904 shares of the company’s stock valued at $506,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools for industrial and commercial customers.

5 Day Chart for NYSE:ARW

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