Arrow Electronics (NYSE:ARW) Issues Q3 2020 Pre-Market Earnings Guidance
Arrow Electronics (NYSE:ARW) issued an update on its third quarter 2020
Pre-Market earnings guidance on Thursday morning. The company provided EPS guidance of 1.54-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.45. The company issued revenue guidance of $6.325-6.925 billion, compared to the consensus revenue estimate of $6.5 billion.Arrow Electronics also updated its Q3 guidance to $1.54-1.70 EPS.
Shares of NYSE ARW opened at $71.62 on Friday. Arrow Electronics has a 12-month low of $39.25 and a 12-month high of $85.80. The stock has a market cap of $5.65 billion, a PE ratio of 15.08, a P/E/G ratio of 1.56 and a beta of 1.46. The company has a current ratio of 1.45, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $66.98 and a 200 day moving average of $66.61.
Arrow Electronics (NYSE:ARW) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.14. Arrow Electronics had a net margin of 1.41% and a return on equity of 11.39%. The business had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same quarter in the prior year, the company posted $1.60 EPS. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. On average, sell-side analysts forecast that Arrow Electronics will post 5.97 EPS for the current fiscal year.
In other news, SVP Gretchen Zech sold 8,400 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $67.41, for a total transaction of $566,244.00. Following the completion of the transaction, the senior vice president now directly owns 11,528 shares of the company’s stock, valued at approximately $777,102.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vincent P. Melvin sold 8,914 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $67.67, for a total value of $603,210.38. Following the transaction, the insider now directly owns 38,971 shares of the company’s stock, valued at $2,637,167.57. The disclosure for this sale can be found here. Corporate insiders own 1.60% 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 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.
Further Reading: Portfolio Manager
Receive News & Ratings for Arrow Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Electronics and related companies with MarketBeat.com's FREE daily email newsletter.