Arrow Electronics (NYSE:ARW) Issues Q4 2024 Earnings Guidance

Arrow Electronics (NYSE:ARW) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.480-2.680 for the period, compared to the consensus EPS estimate of 3.420. The company issued revenue guidance of $6.7 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Arrow Electronics also updated its Q4 guidance to $2.48-2.68 EPS.

Analyst Upgrades and Downgrades

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

Arrow Electronics Trading Down 11.5 %

Shares of ARW stock traded down $15.64 during mid-day trading on Thursday, reaching $120.16. The company’s stock had a trading volume of 279,292 shares, compared to its average volume of 461,747. The firm has a market capitalization of $6.36 billion, a PE ratio of 11.36 and a beta of 1.26. The company’s 50 day simple moving average is $131.73 and its 200-day simple moving average is $128.17. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $137.80.

Arrow Electronics (NYSE:ARW) last issued its quarterly 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. The company had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.52 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.37 EPS. On average, research analysts predict that Arrow Electronics will post 10.74 EPS for the current fiscal year.

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.