SunTrust Banks Research Analysts Reduce Earnings Estimates for Arrow Electronics, Inc. (NYSE:ARW)

Arrow Electronics, Inc. (NYSE:ARW) – Research analysts at SunTrust Banks reduced their Q4 2019 EPS estimates for Arrow Electronics in a report issued on Tuesday, July 16th. SunTrust Banks analyst W. Stein now anticipates that the technology company will earn $2.30 per share for the quarter, down from their prior estimate of $2.61. SunTrust Banks also issued estimates for Arrow Electronics’ Q1 2020 earnings at $1.76 EPS, Q2 2020 earnings at $2.11 EPS, Q3 2020 earnings at $2.19 EPS and Q4 2020 earnings at $2.58 EPS.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.06). Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year.

ARW has been the subject of a number of other research reports. Citigroup cut Galaxy Resources from a “buy” rating to a “neutral” rating in a research report on Tuesday. Bank of America raised First Horizon National from an “underperform” rating to a “neutral” rating and set a $16.00 price target for the company in a research report on Tuesday. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Cross Research cut Arrow Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus cut Tellurian from a “buy” rating to a “hold” rating and lowered their price target for the stock from $16.00 to $9.00 in a research report on Tuesday. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.31.

Shares of ARW opened at $67.25 on Wednesday. The stock’s 50-day moving average price is $68.35. Arrow Electronics has a one year low of $62.35 and a one year high of $86.62. The company has a current ratio of 1.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The firm has a market cap of $5.73 billion, a PE ratio of 7.62, a P/E/G ratio of 3.01 and a beta of 1.39.

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Arrow Electronics by 4.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,350 shares of the technology company’s stock valued at $258,000 after buying an additional 137 shares during the period. Synovus Financial Corp raised its holdings in Arrow Electronics by 3.8% in the 1st quarter. Synovus Financial Corp now owns 4,703 shares of the technology company’s stock worth $363,000 after purchasing an additional 171 shares during the period. IFM Investors Pty Ltd raised its holdings in Arrow Electronics by 3.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,243 shares of the technology company’s stock worth $374,000 after purchasing an additional 182 shares during the period. Twin Capital Management Inc. raised its holdings in Arrow Electronics by 0.4% in the 1st quarter. Twin Capital Management Inc. now owns 52,100 shares of the technology company’s stock worth $4,015,000 after purchasing an additional 220 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in Arrow Electronics by 2.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 9,561 shares of the technology company’s stock worth $737,000 after purchasing an additional 231 shares during the period. 93.22% of the stock is owned by institutional investors and hedge funds.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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