Arrow Electronics (ARW) to Release Earnings on Thursday

Arrow Electronics (NYSE:ARW) will be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.23 per share for the quarter. Arrow Electronics has set its Q3 guidance at $2.10-$2.30 EPS and its Q3 2024 guidance at 2.100-2.300 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. During the same quarter last year, the business earned $4.37 EPS. The business’s revenue was down 19.0% on a year-over-year basis. On average, analysts expect Arrow Electronics to post $11 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Arrow Electronics Stock Performance

Arrow Electronics stock opened at $134.60 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The firm has a market capitalization of $7.13 billion, a P/E ratio of 12.69 and a beta of 1.26. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $137.39. The company’s 50-day moving average is $131.62 and its 200 day moving average is $128.10.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Raymond James lifted their target price on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their price target on shares of Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $130.75.

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.