Arrow Electronics (NYSE:ARW) Announces Quarterly Earnings Results

Arrow Electronics (NYSE:ARW) released its quarterly earnings results on Thursday. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.37 by $0.04, Briefing.com reports. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a return on equity of 17.22% and a net margin of 2.73%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.60 EPS. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Stock Up 1.7 %

Shares of Arrow Electronics stock traded up $2.04 during trading on Friday, reaching $124.75. The company’s stock had a trading volume of 542,271 shares, compared to its average volume of 539,762. The company has a 50-day simple moving average of $123.70 and a two-hundred day simple moving average of $119.56. The company has a quick ratio of 1.00, a current ratio of 1.39 and a debt-to-equity ratio of 0.37. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $147.42. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 7.90 and a beta of 1.39.

Insider Buying and Selling at Arrow Electronics

In other news, CAO Yun Sung Cho sold 739 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at $162,818.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at $1,847,791. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the sale, the chief accounting officer now directly owns 1,389 shares of the company’s stock, valued at approximately $162,818.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,134 shares of company stock worth $488,795. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their target price on shares of Arrow Electronics from $128.00 to $124.00 and set a “hold” rating for the company in a report on Friday, February 9th.

About Arrow Electronics

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.