Analysts Expect Arrow Electronics, Inc. (NYSE:ARW) to Announce $1.67 Earnings Per Share

Brokerages expect Arrow Electronics, Inc. (NYSE:ARW) to report earnings per share of $1.67 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Arrow Electronics’ earnings, with the highest EPS estimate coming in at $1.68 and the lowest estimate coming in at $1.66. Arrow Electronics posted earnings of $2.18 per share in the same quarter last year, which indicates a negative year over year growth rate of 23.4%. The business is expected to issue its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Arrow Electronics will report full-year earnings of $7.25 per share for the current year, with EPS estimates ranging from $7.12 to $7.38. For the next year, analysts expect that the firm will post earnings of $7.94 per share, with EPS estimates ranging from $7.37 to $8.26. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow 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, topping the consensus estimate of $1.56 by $0.04. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the firm earned $2.20 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year.

Several brokerages have issued reports on ARW. Raymond James cut shares of Arrow Electronics from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $88.00 to $80.00 in a research note on Tuesday, July 2nd. TheStreet cut shares of Arrow Electronics from a “b-” rating to a “c” rating in a research report on Friday, August 2nd. Zacks Investment Research cut shares of Arrow Electronics from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Wednesday, July 3rd. Deutsche Bank began coverage on shares of Arrow Electronics in a research report on Tuesday, June 11th. They set a “buy” rating and a $83.00 price target on the stock. Finally, ValuEngine raised shares of Arrow Electronics from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $77.02.

ARW traded up $1.98 on Friday, hitting $68.02. 450,900 shares of the company’s stock were exchanged, compared to its average volume of 682,958. Arrow Electronics has a fifty-two week low of $62.35 and a fifty-two week high of $86.62. 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 50-day moving average price of $69.60 and a 200-day moving average price of $74.19. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 2.13 and a beta of 1.39.

Several hedge funds have recently made changes to their positions in ARW. Longview Partners Guernsey LTD boosted its position in shares of Arrow Electronics by 21.8% during the 2nd quarter. Longview Partners Guernsey LTD now owns 3,511,592 shares of the technology company’s stock valued at $250,271,000 after acquiring an additional 627,865 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Arrow Electronics by 6,311.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 262,917 shares of the technology company’s stock valued at $18,738,000 after acquiring an additional 258,816 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Arrow Electronics by 14.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,924,295 shares of the technology company’s stock valued at $135,855,000 after acquiring an additional 240,829 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Arrow Electronics by 312.7% during the 2nd quarter. Bank of Montreal Can now owns 296,385 shares of the technology company’s stock valued at $21,123,000 after acquiring an additional 224,572 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Arrow Electronics by 1.8% during the 2nd quarter. BlackRock Inc. now owns 8,787,733 shares of the technology company’s stock valued at $626,303,000 after acquiring an additional 159,524 shares during the last quarter. 94.85% 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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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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