Arrow Electronics (NYSE:ARW) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Arrow Electronics (NYSE:ARW) announced its quarterly earnings results on Thursday. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.37 by $0.04, Briefing.com reports. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.60 EPS. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Price Performance

ARW stock traded up $2.18 during trading on Friday, hitting $124.89. The company had a trading volume of 542,271 shares, compared to its average volume of 443,307. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.74 billion, a P/E ratio of 9.81 and a beta of 1.39. The company has a fifty day moving average price of $123.70 and a two-hundred day moving average price of $119.56. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $147.42.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price target on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

Insiders Place Their Bets

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,134 shares of company stock valued at $488,795. 1.00% of the stock is currently owned by corporate insiders.

About Arrow Electronics

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.