Arrow Electronics (NYSE:ARW) Issues Earnings Results

Arrow Electronics (NYSE:ARW) released its earnings results on Thursday. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the previous year, the company posted $4.14 earnings per share. The company’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 Stock Performance

NYSE ARW opened at $121.03 on Friday. The business has a 50 day moving average price of $131.33 and a 200 day moving average price of $128.18. 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 company has a market capitalization of $6.41 billion, a P/E ratio of 13.51 and a beta of 1.27. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $137.80.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARW shares. Raymond James cut their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company increased their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Finally, Truist Financial lowered their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.