Arrow Electronics (NYSE:ARW) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Arrow Electronics (NYSE:ARW) posted its quarterly earnings data 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 business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.08 billion. Arrow Electronics had a net margin of 2.28% and a return on equity of 14.61%. Arrow Electronics’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.60 earnings per share. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Stock Performance

NYSE ARW traded up $2.18 on Friday, hitting $124.89. 542,271 shares of the company traded hands, compared to its average volume of 443,307. The business’s 50 day moving average price is $123.70 and its 200-day moving average price is $119.56. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $147.42. The company has a current ratio of 1.49, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 9.81 and a beta of 1.39.

Insider Transactions at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the transaction, the senior vice president now owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $121.00, for a total value of $180,895.00. Following the sale, the senior vice president now owns 15,271 shares in the company, valued at approximately $1,847,791. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Yun Sung Cho sold 739 shares of the 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 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. Insiders have sold 4,134 shares of company stock valued at $488,795 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased 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.