Arrow Electronics (NYSE:ARW) Releases Q3 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Rating) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.27-5.43 for the period, compared to the consensus estimate of $5.38. The company issued revenue guidance of $8.92-9.52 billion, compared to the consensus revenue estimate of $9.38 billion. Arrow Electronics also updated its Q3 2022 guidance to $5.27-$5.43 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARW. Truist Financial dropped their price target on Arrow Electronics from $143.00 to $126.00 and set a hold rating on the stock in a research note on Friday, April 8th. The Goldman Sachs Group dropped their price target on Arrow Electronics from $158.00 to $127.00 in a research note on Friday, July 15th. Finally, StockNews.com lowered Arrow Electronics from a strong-buy rating to a buy rating in a report on Monday, July 18th.

Arrow Electronics Stock Performance

NYSE ARW traded down $3.34 on Friday, reaching $115.77. The stock had a trading volume of 760,131 shares, compared to its average volume of 354,581. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.06. The firm has a fifty day moving average of $116.29 and a two-hundred day moving average of $119.23. Arrow Electronics has a 1-year low of $105.33 and a 1-year high of $137.95. The company has a market cap of $7.65 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.35.

Arrow Electronics (NYSE:ARWGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The technology company reported $5.78 EPS for the quarter, beating analysts’ consensus estimates of $5.57 by $0.21. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.40 billion. Arrow Electronics had a return on equity of 26.76% and a net margin of 3.87%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 EPS. On average, equities research analysts anticipate that Arrow Electronics will post 21.59 EPS for the current year.

Insider Buying and Selling

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,000 shares of the stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the completion of the transaction, the senior vice president now directly owns 11,105 shares in the company, valued at $1,382,572.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andrew Charles Kerin sold 1,550 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $125.11, for a total transaction of $193,920.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $124.50, for a total value of $124,500.00. Following the transaction, the senior vice president now owns 11,105 shares of the company’s stock, valued at $1,382,572.50. The disclosure for this sale can be found here. Insiders sold a total of 29,475 shares of company stock worth $3,648,254 in the last ninety days. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrow Electronics

A number of hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Arrow Electronics by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,397 shares of the technology company’s stock worth $55,566,000 after purchasing an additional 10,873 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Arrow Electronics by 45.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 134,436 shares of the technology company’s stock worth $15,948,000 after purchasing an additional 42,300 shares during the period. Renaissance Technologies LLC acquired a new stake in Arrow Electronics during the first quarter worth approximately $15,564,000. BNP Paribas Arbitrage SA grew its stake in Arrow Electronics by 53.2% during the first quarter. BNP Paribas Arbitrage SA now owns 76,280 shares of the technology company’s stock worth $9,049,000 after purchasing an additional 26,477 shares during the period. Finally, Bridgewater Associates LP acquired a new stake in Arrow Electronics during the first quarter worth approximately $4,338,000. 93.38% of the stock is currently owned by institutional investors.

Arrow Electronics Company Profile

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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.

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