Arrow Electronics (NYSE:ARW – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $2.05-2.25 for the period, compared to the consensus EPS estimate of $2.60. The company issued revenue guidance of $6.20-6.80 billion, compared to the consensus revenue estimate of $7.25 billion.
Analysts Set New Price Targets
Separately, Truist Financial decreased their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a hold rating for the company in a research report on Friday, February 9th.
Get Our Latest Report on Arrow Electronics
Arrow Electronics Trading Up 1.8 %
Arrow Electronics (NYSE:ARW – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.04. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.60 EPS. Research analysts forecast that Arrow Electronics will post 11.53 earnings per share for the current year.
Insider Activity
In other news, insider Richard John Marano sold 1,900 shares of Arrow Electronics stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $116.46, for a total value of $221,274.00. Following the sale, the insider now owns 12,108 shares in the company, valued at $1,410,097.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Yun Sung Cho sold 739 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 12,108 shares in the company, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. Insiders have sold 4,134 shares of company stock worth $488,795 in the last quarter. Corporate insiders own 1.00% 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.
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