Arrow Electronics (ARW) to Release Quarterly Earnings on Thursday

Arrow Electronics (NYSE:ARW) is set to post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Arrow Electronics to post 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 are interested in participating in the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The company had revenue of $6.89 billion for the quarter, compared to analysts’ expectations of $6.52 billion. During the same quarter in the previous year, the company earned $4.37 EPS. 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 Trading Up 0.6 %

Shares of ARW stock opened at $134.60 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.48. The stock has a fifty day simple moving average of $131.62 and a two-hundred day simple moving average of $128.10. The firm has a market capitalization of $7.13 billion, a PE ratio of 12.69 and a beta of 1.26. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.39.

Analysts Set New Price Targets

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

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.