Arrow Electronics, Inc. (NYSE:ARW) to Post Q2 2024 Earnings of $2.21 Per Share, Zacks Research Forecasts

Arrow Electronics, Inc. (NYSE:ARW) – Research analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for shares of Arrow Electronics in a research report issued on Thursday, May 23rd. Zacks Research analyst R. Department now anticipates that the technology company will post earnings per share of $2.21 for the quarter, down from their prior estimate of $2.52. The consensus estimate for Arrow Electronics’ current full-year earnings is $10.56 per share. Zacks Research also issued estimates for Arrow Electronics’ Q4 2024 earnings at $3.03 EPS and Q4 2025 earnings at $4.25 EPS.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group upped their target price on shares of Arrow Electronics from $116.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial cut their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

Arrow Electronics Stock Down 2.4 %

NYSE ARW opened at $130.44 on Friday. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $147.42. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $126.41 and its 200-day simple moving average is $121.06. The firm has a market cap of $6.94 billion, a PE ratio of 10.25 and a beta of 1.39.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.37 by $0.04. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same quarter in the previous year, the firm earned $4.60 EPS. The company’s quarterly revenue was down 20.7% compared to the same quarter last year.

Institutional Investors Weigh In On Arrow Electronics

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in Arrow Electronics by 5.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,302 shares of the technology company’s stock valued at $288,000 after acquiring an additional 127 shares during the period. Ieq Capital LLC lifted its holdings in Arrow Electronics by 5.5% in the third quarter. Ieq Capital LLC now owns 3,127 shares of the technology company’s stock valued at $392,000 after acquiring an additional 162 shares during the period. Victory Capital Management Inc. lifted its holdings in Arrow Electronics by 3.4% in the third quarter. Victory Capital Management Inc. now owns 17,433 shares of the technology company’s stock valued at $2,183,000 after acquiring an additional 566 shares during the period. Wambolt & Associates LLC increased its position in shares of Arrow Electronics by 41.9% in the third quarter. Wambolt & Associates LLC now owns 4,314 shares of the technology company’s stock valued at $540,000 after buying an additional 1,274 shares in the last quarter. Finally, South Dakota Investment Council increased its position in shares of Arrow Electronics by 3.3% in the third quarter. South Dakota Investment Council now owns 74,556 shares of the technology company’s stock valued at $9,337,000 after buying an additional 2,372 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arrow Electronics

In other Arrow Electronics news, insider Richard John Marano sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the transaction, the insider now directly owns 12,108 shares in the company, valued at $1,410,097.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Richard John Marano sold 1,900 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total value of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at $1,410,097.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The disclosure for this sale can be found here. Insiders have sold 7,851 shares of company stock worth $990,228 over the last three months. Insiders own 1.00% of the company’s stock.

Arrow Electronics Company Profile

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.