Arrow Electronics (NYSE:ARW) Issues Earnings Results

Arrow Electronics (NYSE:ARW) posted its quarterly earnings results on Thursday. The technology company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.23 by $0.15, Briefing.com reports. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.14 earnings per share. 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 Price Performance

ARW stock opened at $121.03 on Friday. The business has a 50 day simple moving average of $131.33 and a 200-day simple moving average of $128.18. 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 twelve month low of $108.51 and a twelve month high of $137.80. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARW. Raymond James decreased their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company raised their price target on Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial cut their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. One investment 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. Based on data from MarketBeat, the company currently has a consensus 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.