Wall Street brokerages forecast that Arrow Electronics, Inc. (NYSE:ARW) will post sales of $7.04 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Arrow Electronics’ earnings, with the highest sales estimate coming in at $7.05 billion and the lowest estimate coming in at $7.04 billion. Arrow Electronics posted sales of $7.49 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 6%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Arrow Electronics will report full year sales of $28.96 billion for the current year, with estimates ranging from $28.92 billion to $29.03 billion. For the next year, analysts anticipate that the company will post sales of $28.56 billion, with estimates ranging from $28.37 billion to $28.80 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, August 1st. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.04. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.29 billion. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share.
NYSE ARW traded up $0.18 during trading hours on Wednesday, hitting $75.48. 666,200 shares of the company’s stock traded hands, compared to its average volume of 579,284. The business’s fifty day moving average price is $70.33 and its two-hundred day moving average price is $72.92. The company has a current ratio of 1.64, a quick ratio of 1.15 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.25 billion, a P/E ratio of 8.55, a P/E/G ratio of 2.47 and a beta of 1.38. Arrow Electronics has a 52 week low of $62.35 and a 52 week high of $86.62.
In other news, insider Charles Kostalnick II sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $68.11, for a total value of $217,952.00. Following the transaction, the insider now owns 8,214 shares of the company’s stock, valued at $559,455.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher Stansbury sold 57,550 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $68.87, for a total transaction of $3,963,468.50. Following the completion of the transaction, the chief financial officer now directly owns 32,481 shares in the company, valued at approximately $2,236,966.47. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Arrow Electronics by 140.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,350 shares of the technology company’s stock worth $3,874,000 after buying an additional 31,775 shares in the last quarter. Andra AP fonden purchased a new stake in Arrow Electronics during the first quarter valued at $6,820,000. Prudential Financial Inc. raised its stake in Arrow Electronics by 35.7% during the second quarter. Prudential Financial Inc. now owns 537,634 shares of the technology company’s stock valued at $38,318,000 after purchasing an additional 141,520 shares in the last quarter. Greenleaf Trust purchased a new stake in Arrow Electronics during the first quarter valued at $834,000. Finally, BNP Paribas Arbitrage SA raised its stake in Arrow Electronics by 308.9% during the second quarter. BNP Paribas Arbitrage SA now owns 116,140 shares of the technology company’s stock valued at $8,277,000 after purchasing an additional 87,739 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.
Arrow Electronics Company Profile
Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.
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