Arrow Electronics (ARW) Set to Announce Quarterly Earnings on Thursday

Arrow Electronics (NYSE:ARW) will be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.23 per share for the quarter. Arrow Electronics has set its Q3 guidance at $2.10-$2.30 EPS and its Q3 2024 guidance at 2.100-2.300 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.52 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. Arrow Electronics’s revenue for the quarter was down 19.0% on a year-over-year basis. On average, analysts expect Arrow Electronics to post $11 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Arrow Electronics Stock Performance

Shares of ARW stock opened at $132.36 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $131.42 and a two-hundred day simple moving average of $127.98. Arrow Electronics has a 12 month low of $108.51 and a 12 month high of $137.39. The firm has a market capitalization of $7.05 billion, a PE ratio of 10.41 and a beta of 1.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ARW shares. Wells Fargo & Company boosted their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Raymond James boosted their price objective on Arrow Electronics from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial raised their target price on Arrow Electronics from $124.00 to $141.00 and gave the company a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $130.75.

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.