Arrow Electronics (NYSE:ARW) Announces Earnings Results, Beats Expectations By $0.15 EPS

Arrow Electronics (NYSE:ARW) issued its earnings results on Thursday. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15, Briefing.com reports. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.73 billion. During the same quarter in the prior year, the firm earned $4.14 EPS. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. Arrow Electronics updated its Q4 guidance to $2.48-2.68 EPS and its Q4 2024 guidance to 2.480-2.680 EPS.

Arrow Electronics Trading Up 2.0 %

ARW stock traded up $2.36 during trading on Friday, hitting $121.03. The company had a trading volume of 675,405 shares, compared to its average volume of 467,028. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Arrow Electronics has a one year low of $108.51 and a one year high of $137.80. The business has a 50-day moving average of $131.33 and a 200-day moving average of $128.15. The stock has a market cap of $6.41 billion, a PE ratio of 11.41 and a beta of 1.26.

Analyst Upgrades and Downgrades

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