$7.61 Billion in Sales Expected for Arrow Electronics, Inc. (NYSE:ARW) This Quarter

Brokerages forecast that Arrow Electronics, Inc. (NYSE:ARW) will post sales of $7.61 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Arrow Electronics’ earnings, with estimates ranging from $7.25 billion to $7.74 billion. Arrow Electronics reported sales of $7.39 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3%. The business is scheduled to report its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $30.34 billion for the current year, with estimates ranging from $29.05 billion to $31.04 billion. For the next financial year, analysts expect that the company will report sales of $30.70 billion, with estimates ranging from $29.10 billion to $31.98 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.06). The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS.

Several brokerages have recently commented on ARW. Citigroup set a $12.00 price objective on shares of Avaya and gave the stock a “hold” rating in a report on Monday, July 8th. Deutsche Bank set a $60.00 target price on shares of Taubman Centers and gave the stock a “hold” rating in a report on Tuesday, June 11th. Bank of America upgraded shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, May 6th. Cross Research lowered shares of Arrow Electronics from a “buy” rating to a “hold” rating in a report on Thursday, June 20th. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $79.69.

Shares of ARW stock traded up $1.65 on Friday, reaching $68.95. 438,624 shares of the company were exchanged, compared to its average volume of 506,657. Arrow Electronics has a 1 year low of $62.35 and a 1 year high of $86.62. The company has a market cap of $5.70 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.21 and a current ratio of 1.74. The firm has a 50-day moving average of $68.03.

Several large investors have recently made changes to their positions in ARW. JOYN Advisors Inc. increased its position in shares of Arrow Electronics by 317.8% in the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock valued at $42,000 after purchasing an additional 464 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of Arrow Electronics in the 1st quarter valued at $55,000. Buffington Mohr McNeal purchased a new position in shares of Arrow Electronics in the 1st quarter valued at $77,000. Private Capital Group LLC grew its position in shares of Arrow Electronics by 184.2% in the 1st quarter. Private Capital Group LLC now owns 1,009 shares of the technology company’s stock valued at $78,000 after buying an additional 654 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Arrow Electronics by 22.0% in the 1st quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $100,000 after buying an additional 235 shares during the last quarter. 93.08% of the stock is currently 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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