Equities analysts expect that Arrow Electronics, Inc. (NYSE:ARW) will report sales of $6.95 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Arrow Electronics’ earnings, with estimates ranging from $6.88 billion to $6.99 billion. Arrow Electronics posted sales of $6.88 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The company is expected to announce its next earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $29.87 billion for the current fiscal year, with estimates ranging from $29.65 billion to $30.04 billion. For the next year, analysts expect that the business will report sales of $30.39 billion, with estimates ranging from $30.12 billion to $30.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Arrow Electronics.
Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, February 7th. The technology company reported $2.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.01. The company had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.94 billion. Arrow Electronics had a return on equity of 14.88% and a net margin of 2.41%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 EPS.
ARW has been the subject of several research analyst reports. Citigroup upgraded Arrow Electronics from a “sell” rating to a “neutral” rating in a research note on Friday, October 26th. SunTrust Banks increased their target price on Arrow Electronics to $84.00 and gave the company a “hold” rating in a research note on Friday, February 8th. Zacks Investment Research cut Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine upgraded Arrow Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, Stifel Nicolaus cut Arrow Electronics from a “buy” rating to a “hold” rating and set a $75.33 target price for the company. in a research note on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.33.
Arrow Electronics stock opened at $81.99 on Monday. The company has a market cap of $6.88 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.55 and a quick ratio of 1.11. Arrow Electronics has a 52 week low of $62.69 and a 52 week high of $83.71.
Arrow Electronics declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 12th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael J. Long sold 53,984 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $80.70, for a total transaction of $4,356,508.80. Following the transaction, the chief executive officer now directly owns 366,253 shares in the company, valued at $29,556,617.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Catherine Morris sold 13,016 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $75.00, for a total value of $976,200.00. Following the transaction, the insider now owns 26,093 shares in the company, valued at $1,956,975. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Arrow Electronics by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 5,742,170 shares of the technology company’s stock worth $423,313,000 after purchasing an additional 370,095 shares during the last quarter. Vanguard Group Inc lifted its stake in Arrow Electronics by 0.9% in the third quarter. Vanguard Group Inc now owns 7,937,507 shares of the technology company’s stock valued at $585,153,000 after buying an additional 70,647 shares during the last quarter. Daiwa SB Investments Ltd. lifted its stake in Arrow Electronics by 12.3% in the fourth quarter. Daiwa SB Investments Ltd. now owns 2,740 shares of the technology company’s stock valued at $189,000 after buying an additional 300 shares during the last quarter. Aperio Group LLC lifted its stake in Arrow Electronics by 32.8% in the third quarter. Aperio Group LLC now owns 180,497 shares of the technology company’s stock valued at $13,306,000 after buying an additional 44,541 shares during the last quarter. Finally, Man Group plc bought a new stake in Arrow Electronics in the third quarter valued at $293,000. Hedge funds and other institutional investors own 93.91% 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 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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