Arrow Electronics (NYSE:ARW) Issues Quarterly Earnings Results

Arrow Electronics (NYSE:ARW) issued its quarterly earnings data on Thursday. The technology company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.04, Briefing.com reports. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.08 billion. During the same period in the previous year, the firm posted $4.60 earnings per share. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. Arrow Electronics updated its Q2 guidance to $2.05-2.25 EPS.

Arrow Electronics Trading Up 1.8 %

Shares of NYSE ARW traded up $2.18 during midday trading on Friday, hitting $124.89. The company’s stock had a trading volume of 542,271 shares, compared to its average volume of 443,307. 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 business’s 50 day moving average is $123.70 and its two-hundred day moving average is $119.56. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $147.42. The firm has a market cap of $6.74 billion, a P/E ratio of 9.81 and a beta of 1.39.

Insider Transactions at Arrow Electronics

In other Arrow Electronics news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total transaction of $180,895.00. Following the transaction, the senior vice president now directly owns 15,271 shares in the company, valued at approximately $1,847,791. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Yun Sung Cho sold 739 shares of Arrow Electronics stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $117.22, for a total value of $86,625.58. Following the transaction, the chief accounting officer now directly owns 1,389 shares in the company, valued at approximately $162,818.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the completion of the sale, the senior vice president now directly owns 15,271 shares of the company’s stock, valued at approximately $1,847,791. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,134 shares of company stock worth $488,795. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial reduced their price objective on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a research note on Friday, February 9th.

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.