Arrow Electronics (NYSE:ARW) Updates Q4 2024 Earnings Guidance

Arrow Electronics (NYSE:ARW) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.480-2.680 for the period, compared to the consensus earnings per share estimate of 3.420. The company issued revenue guidance of $6.7 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Arrow Electronics also updated its Q4 guidance to $2.48-2.68 EPS.

Arrow Electronics Stock Performance

Shares of NYSE ARW traded up $2.36 during trading on Friday, reaching $121.03. 675,405 shares of the company traded hands, compared to its average volume of 467,028. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $131.33 and a 200-day simple moving average of $128.18. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.80. The stock has a market capitalization of $6.41 billion, a PE ratio of 13.51 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.14 EPS. Equities research analysts anticipate that Arrow Electronics will post 10.74 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Truist Financial lowered their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday. Finally, Raymond James reduced their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.25.

Arrow Electronics Company Profile

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.