Arrow Electronics (NYSE:ARW) Updates Q2 Earnings Guidance

Arrow Electronics (NYSE:ARW) issued an update on its second quarter earnings guidance on Thursday morning. 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 reduced their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a hold rating for the company in a report on Friday, February 9th.

Arrow Electronics Stock Performance

Shares of Arrow Electronics stock opened at $124.89 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.00. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 9.82 and a beta of 1.39. The stock’s 50-day moving average is $123.70 and its 200-day moving average is $119.58. Arrow Electronics has a one year low of $108.51 and a one year high of $147.42.

Arrow Electronics (NYSE:ARW) last released its 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 business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. Arrow Electronics’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.60 earnings per share. Equities analysts predict that Arrow Electronics will post 11.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Yun Sung Cho sold 739 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at $162,818.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $117.22, for a total value of $86,625.58. Following the completion of the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at approximately $162,818.58. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock valued at $488,795 over the last 90 days. 1.00% of the stock is currently owned by 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.