Arrow Electronics, Inc. (NYSE:ARW) Expected to Announce Quarterly Sales of $7.72 Billion

Wall Street brokerages expect Arrow Electronics, Inc. (NYSE:ARW) to post $7.72 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Arrow Electronics’ earnings, with estimates ranging from $7.70 billion to $7.74 billion. Arrow Electronics reported sales of $7.39 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is scheduled to announce its next earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $30.70 billion for the current year, with estimates ranging from $30.48 billion to $31.04 billion. For the next financial year, analysts forecast that the business will post sales of $31.02 billion, with estimates ranging from $30.18 billion to $31.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.90 by ($0.06). The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $6.96 billion. Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. Arrow Electronics’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 earnings per share.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Deutsche Bank assumed coverage on Arrow Electronics in a research note on Tuesday, June 11th. They set a “buy” rating and a $83.00 price objective for the company. ValuEngine downgraded Arrow Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, Bank of America downgraded Arrow Electronics from a “buy” rating to a “neutral” rating and set a $76.15 price objective for the company. in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $81.07.

ARW traded down $0.34 during trading on Wednesday, reaching $66.76. 2,892 shares of the company were exchanged, compared to its average volume of 582,577. The company has a market cap of $5.68 billion, a P/E ratio of 7.55, a PEG ratio of 2.93 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.21. Arrow Electronics has a 52 week low of $62.35 and a 52 week high of $86.62.

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of Arrow Electronics during the 4th quarter valued at about $31,000. Lindbrook Capital LLC bought a new stake in shares of Arrow Electronics in the 4th quarter worth approximately $37,000. JOYN Advisors Inc. lifted its position in shares of Arrow Electronics by 317.8% during the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock worth $42,000 after buying an additional 464 shares during the period. Quantamental Technologies LLC bought a new position in shares of Arrow Electronics during the 1st quarter worth approximately $55,000. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Arrow Electronics by 8,975.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,854,494 shares of the technology company’s stock worth $70,000 after buying an additional 4,801,004 shares during the period. 93.08% of the stock is owned by institutional investors.

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

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