Zacks: Analysts Expect Arrow Electronics, Inc. (NYSE:ARW) Will Post Quarterly Sales of $7.61 Billion

Equities analysts expect Arrow Electronics, Inc. (NYSE:ARW) to post $7.61 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Arrow Electronics’ earnings, with the lowest sales estimate coming in at $7.25 billion and the highest estimate coming in at $7.74 billion. Arrow Electronics posted sales of $7.39 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is expected to announce its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Arrow Electronics will report full-year sales of $30.34 billion for the current year, with estimates ranging from $29.05 billion to $31.04 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $30.70 billion, with estimates ranging from $29.10 billion to $31.98 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Arrow Electronics.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, May 2nd. The technology company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($0.06). Arrow Electronics had a return on equity of 14.46% and a net margin of 2.40%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same quarter last year, the business posted $1.88 EPS. The firm’s revenue was up 4.1% on a year-over-year basis.

Several analysts have recently commented on ARW shares. ValuEngine upgraded shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Raymond James restated a “buy” rating and issued a $26.00 target price on shares of Propetro in a research note on Tuesday, July 2nd. Citigroup set a $12.00 price target on shares of Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Bank of America upgraded shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a report on Monday, May 6th. Finally, Deutsche Bank set a $60.00 price target on shares of Taubman Centers and gave the company a “hold” rating in a report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $79.69.

Institutional investors and hedge funds have recently made changes to their positions in the company. JOYN Advisors Inc. increased its holdings in shares of Arrow Electronics by 317.8% in the 4th quarter. JOYN Advisors Inc. now owns 610 shares of the technology company’s stock valued at $42,000 after purchasing an additional 464 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Arrow Electronics during the 1st quarter valued at about $55,000. Buffington Mohr McNeal purchased a new position in Arrow Electronics during the 1st quarter valued at about $77,000. Private Capital Group LLC increased its holdings in Arrow Electronics by 184.2% during the 1st quarter. Private Capital Group LLC now owns 1,009 shares of the technology company’s stock valued at $78,000 after acquiring an additional 654 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Arrow Electronics by 22.0% during the 1st quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock valued at $100,000 after acquiring an additional 235 shares in the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.

Shares of ARW stock traded up $1.65 during mid-day trading on Friday, hitting $68.95. The stock had a trading volume of 438,624 shares, compared to its average volume of 506,657. Arrow Electronics has a fifty-two week low of $62.35 and a fifty-two week high of $86.62. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.98 and a beta of 1.39. The company has a current ratio of 1.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $68.03.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions. The Global Components segment markets and distributes semiconductor products and related services; passive, electro-mechanical, and interconnect products consisting primarily of capacitors, resistors, potentiometers, power supplies, relays, switches, and connectors; and computing and memory products, as well as other products and services.

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Earnings History and Estimates for Arrow Electronics (NYSE:ARW)

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