Arrow Electronics, Inc. (NYSE:ARW) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.21-2.37 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.27. The company issued revenue guidance of $7.2-7.6 billion, compared to the consensus revenue estimate of $7.18 billion.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.01. Arrow Electronics had a return on equity of 13.52% and a net margin of 2.01%. The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the business earned $1.56 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis.
ARW has been the topic of several recent research reports. Deutsche Bank AG restated a hold rating and issued a $81.00 price objective (up from $76.00) on shares of Arrow Electronics in a research report on Wednesday, August 9th. BidaskClub downgraded Arrow Electronics from a buy rating to a hold rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Arrow Electronics from a hold rating to a buy rating and set a $91.00 target price on the stock in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $80.60.
In other news, insider Sean J. Kerins sold 4,477 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.16, for a total value of $345,445.32. Following the transaction, the insider now directly owns 26,213 shares in the company, valued at approximately $2,022,595.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael J. Long sold 20,910 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $76.01, for a total value of $1,589,369.10. Following the completion of the transaction, the chairman now owns 346,486 shares in the company, valued at $26,336,400.86. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
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About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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