Analysts Expect Arrow Electronics, Inc. (ARW) Will Post Quarterly Sales of $6.55 Billion
Equities research analysts predict that Arrow Electronics, Inc. (NYSE:ARW) will announce sales of $6.55 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Arrow Electronics’ earnings. The lowest sales estimate is $6.52 billion and the highest is $6.58 billion. Arrow Electronics posted sales of $5.94 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Arrow Electronics will report full-year sales of $6.55 billion for the current fiscal year, with estimates ranging from $25.77 billion to $26.06 billion. For the next financial year, analysts forecast that the business will post sales of $26.87 billion per share, with estimates ranging from $26.48 billion to $27.16 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Arrow Electronics.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.01. The business had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.23 billion. Arrow Electronics had a net margin of 2.01% and a return on equity of 13.52%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share.
A number of equities analysts have recently commented on ARW shares. Deutsche Bank AG reissued a “hold” rating and issued a $81.00 target price (up previously from $76.00) on shares of Arrow Electronics in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Arrow Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $86.00 target price on shares of Arrow Electronics in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.67.
Arrow Electronics (NYSE:ARW) opened at 79.52 on Friday. The firm has a market cap of $7.02 billion, a P/E ratio of 14.54 and a beta of 1.12. Arrow Electronics has a 1-year low of $58.52 and a 1-year high of $84.53. The firm has a 50 day moving average of $77.72 and a 200 day moving average of $76.05.
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In related news, insider Sean J. Kerins sold 4,477 shares of Arrow Electronics stock in a transaction on Friday, August 25th. The shares were sold at an average price of $77.16, for a total transaction of $345,445.32. Following the sale, the insider now owns 26,213 shares of the company’s stock, valued at approximately $2,022,595.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Michael J. Long sold 20,910 shares of Arrow Electronics stock in a transaction on Monday, August 14th. The stock was sold at an average price of $76.01, for a total transaction of $1,589,369.10. Following the sale, the chairman now directly owns 346,486 shares in the company, valued at approximately $26,336,400.86. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Arrow Electronics by 4,788.3% during the 1st quarter. BlackRock Inc. now owns 8,306,456 shares of the technology company’s stock worth $609,777,000 after buying an additional 8,136,530 shares during the period. Vanguard Group Inc. increased its stake in Arrow Electronics by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,643,715 shares of the technology company’s stock worth $599,421,000 after buying an additional 164,059 shares during the period. Wellington Management Group LLP increased its stake in Arrow Electronics by 7.3% during the 1st quarter. Wellington Management Group LLP now owns 6,069,251 shares of the technology company’s stock worth $445,543,000 after buying an additional 415,098 shares during the period. Boston Partners increased its stake in Arrow Electronics by 0.3% during the 2nd quarter. Boston Partners now owns 5,879,972 shares of the technology company’s stock worth $461,107,000 after buying an additional 15,047 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Arrow Electronics by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,423,521 shares of the technology company’s stock worth $268,476,000 after buying an additional 18,653 shares during the period. 93.31% of the stock is currently owned by hedge funds and other institutional investors.
About Arrow Electronics
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 various electronic components and enterprise computing solutions suppliers.
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