Arrow Electronics (NYSE:ARW) Releases Q2 2022 Earnings Guidance

Arrow Electronics (NYSE:ARWGet Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.48-$5.64 for the period, compared to the consensus estimate of $4.62. The company issued revenue guidance of $9.04 billion-$9.64 billion, compared to the consensus revenue estimate of $8.94 billion.

Shares of NYSE:ARW opened at $118.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.49. The company has a market cap of $7.81 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 1.82 and a beta of 1.37. Arrow Electronics has a 52 week low of $107.11 and a 52 week high of $137.95. The firm has a 50 day simple moving average of $119.35 and a 200 day simple moving average of $123.57.

Arrow Electronics (NYSE:ARWGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The technology company reported $5.43 EPS for the quarter, beating the consensus estimate of $4.53 by $0.90. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $8.71 billion. Arrow Electronics had a net margin of 3.60% and a return on equity of 24.40%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.84 EPS. On average, equities analysts predict that Arrow Electronics will post 21.57 earnings per share for the current year.

ARW has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Arrow Electronics from a hold rating to a strong-buy rating and set a $146.00 target price for the company in a research report on Tuesday, February 8th. Raymond James upgraded shares of Arrow Electronics from a market perform rating to an outperform rating and set a $150.00 target price for the company in a research report on Wednesday, February 2nd. Truist Financial cut their target price on shares of Arrow Electronics from $143.00 to $126.00 and set a hold rating for the company in a research report on Friday, April 8th. Finally, StockNews.com downgraded shares of Arrow Electronics from a strong-buy rating to a buy rating in a research report on Friday.

In other news, SVP Vincent P. Melvin sold 5,334 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $122.26, for a total transaction of $652,134.84. Following the transaction, the senior vice president now owns 25,381 shares in the company, valued at approximately $3,103,081.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher Stansbury sold 52,993 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $121.60, for a total transaction of $6,443,948.80. The disclosure for this sale can be found here. Insiders have sold a total of 119,368 shares of company stock worth $14,632,508 in the last 90 days. 1.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Toroso Investments LLC grew its stake in Arrow Electronics by 13.7% in the 1st quarter. Toroso Investments LLC now owns 2,401 shares of the technology company’s stock valued at $285,000 after buying an additional 290 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Arrow Electronics by 53.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 76,280 shares of the technology company’s stock worth $9,049,000 after purchasing an additional 26,477 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in Arrow Electronics by 86.7% in the 1st quarter. Beacon Pointe Advisors LLC now owns 3,564 shares of the technology company’s stock worth $423,000 after purchasing an additional 1,655 shares during the last quarter. Royal Bank of Canada grew its position in Arrow Electronics by 20.3% in the 1st quarter. Royal Bank of Canada now owns 26,486 shares of the technology company’s stock worth $3,142,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Delphia USA Inc. grew its position in Arrow Electronics by 34.5% in the 1st quarter. Delphia USA Inc. now owns 3,199 shares of the technology company’s stock worth $379,000 after purchasing an additional 821 shares during the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.

Arrow Electronics Company Profile (Get Rating)

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.

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