Arrow Electronics (NYSE:ARW) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Arrow Electronics (NYSE:ARW) posted its earnings results on Thursday. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.04, Briefing.com reports. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.60 EPS. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Price Performance

NYSE ARW traded up $2.18 on Friday, hitting $124.89. The company had a trading volume of 542,271 shares, compared to its average volume of 443,307. The company has a market capitalization of $6.74 billion, a PE ratio of 9.81 and a beta of 1.39. The company’s fifty day moving average price is $123.70 and its 200-day moving average price is $119.56. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.00. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $147.42.

Insider Buying and Selling

In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total transaction of $180,895.00. Following the completion of the sale, the senior vice president now owns 15,271 shares of the company’s stock, valued at $1,847,791. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard John Marano sold 1,900 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.46, for a total transaction of $221,274.00. Following the sale, the insider now directly owns 12,108 shares of the company’s stock, valued at approximately $1,410,097.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,134 shares of company stock valued at $488,795. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their price target on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.