Arrow Electronics (NYSE:ARW) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.54-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.45. The company issued revenue guidance of $6.325-6.925 billion, compared to the consensus revenue estimate of $6.50 billion.Arrow Electronics also updated its Q3 2020
Pre-Market guidance to 1.54-1.70 EPS.

Several research firms have weighed in on ARW. ValuEngine lowered shares of Arrow Electronics from a hold rating to a sell rating in a research note on Monday, May 4th. Bank of America restated a neutral rating and set a $73.00 price target (up previously from $70.00) on shares of Arrow Electronics in a research note on Tuesday, May 5th. Stifel Nicolaus increased their price target on shares of Arrow Electronics from $55.00 to $65.00 and gave the stock a hold rating in a research note on Friday, May 1st. Raymond James lowered shares of Arrow Electronics from an outperform rating to a market perform rating in a research note on Tuesday, April 14th. Finally, SunTrust Banks increased their price target on shares of Arrow Electronics from $63.00 to $65.00 and gave the stock a hold rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Arrow Electronics currently has a consensus rating of Hold and a consensus target price of $72.00.

NYSE:ARW opened at $71.62 on Friday. Arrow Electronics has a 1 year low of $39.25 and a 1 year high of $85.80. The firm’s fifty day simple moving average is $66.98 and its 200 day simple moving average is $66.61. 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 firm has a market capitalization of $5.65 billion, a PE ratio of 15.08, a PEG ratio of 1.56 and a beta of 1.46.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, July 30th. The technology company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.38 billion. During the same period last year, the business posted $1.60 EPS. Arrow Electronics’s revenue was down 10.0% compared to the same quarter last year. As a group, analysts anticipate that Arrow Electronics will post 5.97 EPS for the current fiscal year.

In related news, insider Vincent P. Melvin sold 8,914 shares of Arrow Electronics stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $67.67, for a total transaction of $603,210.38. Following the sale, the insider now directly owns 38,971 shares of the company’s stock, valued at $2,637,167.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gretchen Zech sold 8,400 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $67.41, for a total value 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

About Arrow Electronics

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.

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

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