Zacks: Brokerages Expect Arrow Electronics, Inc. (ARW) to Post $2.16 Earnings Per Share

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Equities research analysts predict that Arrow Electronics, Inc. (NYSE:ARW) will announce earnings per share (EPS) of $2.16 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Arrow Electronics’ earnings. The lowest EPS estimate is $2.11 and the highest is $2.19. Arrow Electronics posted earnings per share of $1.82 during the same quarter last year, which suggests a positive year-over-year growth rate of 18.7%. The firm is expected to issue its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Arrow Electronics will report full-year earnings of $8.88 per share for the current fiscal year, with EPS estimates ranging from $8.79 to $9.00. For the next year, analysts anticipate that the firm will report earnings of $9.38 per share, with EPS estimates ranging from $9.13 to $9.72. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Arrow Electronics.

Arrow Electronics (NYSE:ARW) last posted its earnings results on Thursday, August 2nd. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.05. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Arrow Electronics had a return on equity of 14.81% and a net margin of 1.72%. Arrow Electronics’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share.

Several brokerages have commented on ARW. Zacks Investment Research upgraded shares of Arrow Electronics from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Tuesday, July 17th. Pivotal Research set a $98.00 price objective on shares of Arrow Electronics and gave the stock a “buy” rating in a report on Monday, May 28th. ValuEngine lowered shares of Arrow Electronics from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, Wells Fargo & Co began coverage on shares of Arrow Electronics in a report on Tuesday, July 17th. They issued an “outperform” rating and a $90.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $88.17.

In other Arrow Electronics news, SVP Gretchen Zech sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $77.00, for a total value of $346,500.00. Following the completion of the sale, the senior vice president now directly owns 21,814 shares in the company, valued at $1,679,678. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vincent P. Melvin sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $78.10, for a total transaction of $156,200.00. Following the completion of the sale, the insider now owns 16,371 shares of the company’s stock, valued at $1,278,575.10. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Arrow Electronics by 4.9% during the first quarter. BlackRock Inc. now owns 8,703,890 shares of the technology company’s stock valued at $670,375,000 after purchasing an additional 403,632 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Electronics by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,445,336 shares of the technology company’s stock valued at $259,366,000 after purchasing an additional 52,889 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Arrow Electronics by 17.7% during the second quarter. Cooke & Bieler LP now owns 1,769,766 shares of the technology company’s stock valued at $133,228,000 after purchasing an additional 265,565 shares during the last quarter. Kiltearn Partners LLP lifted its holdings in shares of Arrow Electronics by 0.6% during the first quarter. Kiltearn Partners LLP now owns 1,634,000 shares of the technology company’s stock valued at $123,743,000 after purchasing an additional 10,300 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Arrow Electronics by 36.0% during the first quarter. Schroder Investment Management Group now owns 1,378,400 shares of the technology company’s stock valued at $106,164,000 after purchasing an additional 364,723 shares during the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

NYSE ARW opened at $78.15 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. Arrow Electronics has a 1 year low of $72.31 and a 1 year high of $87.26. The stock has a market capitalization of $6.77 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.12.

Arrow Electronics Company Profile

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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