Equities research analysts expect Arrow Electronics, Inc. (NYSE:ARW) to announce $8.85 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Arrow Electronics' earnings. The lowest sales estimate is $8.85 billion and the highest is $8.86 billion. Arrow Electronics posted sales of $8.45 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 3rd.
On average, analysts expect that Arrow Electronics will report full year sales of $34.31 billion for the current fiscal year, with estimates ranging from $34.31 billion to $34.32 billion. For the next financial year, analysts forecast that the business will post sales of $34.83 billion, with estimates ranging from $33.19 billion to $35.84 billion. Zacks Investment Research's sales averages are an average based on a survey of research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, November 4th. The technology company reported $4.04 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $3.54 by $0.50. The firm had revenue of $8.51 billion during the quarter, compared to analyst estimates of $8.59 billion. Arrow Electronics had a net margin of 2.87% and a return on equity of 19.22%. The business's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.08 earnings per share.
Separately, Zacks Investment Research raised shares of Arrow Electronics from a "hold" rating to a "strong-buy" rating and set a $139.00 target price for the company in a research note on Tuesday, November 9th.
Shares of ARW opened at $123.97 on Friday. The firm has a market capitalization of $8.63 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.32 and a beta of 1.50. Arrow Electronics has a 12-month low of $91.01 and a 12-month high of $130.00. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $118.40 and a 200-day moving average price of $117.47.
Arrow Electronics announced that its board has authorized a stock repurchase plan on Thursday, August 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
In other Arrow Electronics news, insider Charles Kostalnick II sold 3,000 shares of the business's stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $122.45, for a total value of $367,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company's stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in shares of Arrow Electronics by 8.0% during the second quarter. Public Employees Retirement System of Ohio now owns 50,648 shares of the technology company's stock valued at $5,765,000 after acquiring an additional 3,770 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Arrow Electronics by 11.4% in the second quarter. Advisor Group Holdings Inc. now owns 10,920 shares of the technology company's stock valued at $1,242,000 after buying an additional 1,114 shares during the last quarter. Twin Tree Management LP boosted its position in Arrow Electronics by 46,612.9% in the second quarter. Twin Tree Management LP now owns 28,962 shares of the technology company's stock valued at $3,297,000 after buying an additional 28,900 shares during the last quarter. SG Americas Securities LLC boosted its position in Arrow Electronics by 4.1% in the second quarter. SG Americas Securities LLC now owns 16,459 shares of the technology company's stock valued at $1,874,000 after buying an additional 642 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Arrow Electronics by 6.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,002 shares of the technology company's stock valued at $1,594,000 after buying an additional 889 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company's stock.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.
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