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

Arrow Electronics (NYSE:ARW) announced its earnings results on Tuesday. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04, Briefing.com reports. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. During the same quarter last year, the business earned $4.60 earnings per share. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year.

Arrow Electronics Stock Performance

NYSE:ARW opened at $127.49 on Thursday. The company’s 50-day moving average price is $124.35 and its 200-day moving average price is $119.87. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.79 billion, a P/E ratio of 10.02 and a beta of 1.39. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $147.42.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased 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.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of Arrow Electronics stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the completion of the sale, the chief accounting officer now directly owns 1,389 shares in the company, valued at $162,818.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,134 shares of company stock valued at $488,795. Corporate insiders own 0.60% 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 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.