Arrow Electronics (NYSE:ARW – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.05-2.25 for the period, compared to the consensus earnings per share 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.
Wall Street Analyst Weigh In
Separately, Truist Financial decreased their price target on Arrow Electronics from $128.00 to $124.00 and set a hold rating for the company in a research note on Friday, February 9th.
Check Out Our Latest Report on Arrow Electronics
Arrow Electronics Stock Performance
Arrow Electronics (NYSE:ARW – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the company posted $4.60 EPS. Research analysts forecast that Arrow Electronics will post 11.53 EPS for the current fiscal year.
Insider Transactions at Arrow Electronics
In other news, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Richard John Marano sold 1,900 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the completion of the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The disclosure for this sale can be found here. Insiders sold a total of 4,134 shares of company stock valued at $488,795 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
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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