Arrow Electronics (NYSE:ARW) Issues Q3 2020 Pre-Market Earnings Guidance

Arrow Electronics (NYSE:ARW) updated its third quarter 2020
Pre-Market earnings guidance on Thursday. The company provided EPS guidance of 1.54-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.45. The company issued revenue guidance of $6.325-6.925 billion, compared to the consensus revenue estimate of $6.5 billion.Arrow Electronics also updated its Q3 guidance to $1.54-1.70 EPS.

Several equities analysts recently issued reports on the company. Bank of America restated a neutral rating and set a $73.00 price objective (up from $70.00) on shares of Arrow Electronics in a research note on Tuesday, May 5th. Citigroup restated a buy rating on shares of Arrow Electronics in a research note on Monday, July 13th. Wells Fargo & Co raised their price objective on Arrow Electronics from $48.00 to $70.00 and gave the stock an equal weight rating in a research note on Friday, May 1st. Stifel Nicolaus increased their target price on Arrow Electronics from $55.00 to $65.00 and gave the stock a hold rating in a research report on Friday, May 1st. Finally, Raymond James lowered Arrow Electronics from an outperform rating to a market perform rating in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $72.00.

ARW stock opened at $71.62 on Friday. Arrow Electronics has a 12 month low of $39.25 and a 12 month high of $85.80. The firm has a market cap of $5.65 billion, a PE ratio of 15.08, a P/E/G ratio of 1.56 and a beta of 1.46. The firm has a 50 day simple moving average of $66.98 and a 200 day simple moving average of $66.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.45 and a quick ratio of 1.04.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, July 30th. The technology company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.45 by $0.14. Arrow Electronics had a net margin of 1.41% and a return on equity of 11.39%. The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the business earned $1.60 earnings per share. The business’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Arrow Electronics will post 5.97 earnings per share for the current year.

In other news, insider Vincent P. Melvin sold 8,914 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $67.67, for a total transaction of $603,210.38. Following the sale, the insider now owns 38,971 shares in the company, valued at $2,637,167.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gretchen Zech sold 8,400 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $67.41, for a total transaction of $566,244.00. Following the completion of the transaction, the senior vice president now owns 11,528 shares in the company, valued at approximately $777,102.48. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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