Zacks: Brokerages Expect Arrow Electronics, Inc. (ARW) Will Post Quarterly Sales of $6.19 Billion

Equities analysts expect that Arrow Electronics, Inc. (NYSE:ARW) will announce $6.19 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Arrow Electronics’ earnings. The highest sales estimate is $6.22 billion and the lowest is $6.17 billion. Arrow Electronics reported sales of $5.97 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, August 3rd.

On average, analysts expect that Arrow Electronics will report full-year sales of $6.19 billion for the current financial year, with estimates ranging from $24.79 billion to $25.21 billion. For the next year, analysts anticipate that the business will post sales of $25.99 billion per share, with estimates ranging from $25.39 billion to $26.51 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Arrow Electronics.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, May 4th. The technology company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.44 by $0.02. Arrow Electronics had a net margin of 2.20% and a return on equity of 13.59%. The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday. Stifel Nicolaus increased their price target on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $73.17.

In other Arrow Electronics news, insider Mary Catherine Morris sold 9,692 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $75.07, for a total value of $727,578.44. Following the sale, the insider now owns 21,570 shares in the company, valued at $1,619,259.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gretchen Zech sold 9,781 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $77.34, for a total value of $756,462.54. Following the completion of the sale, the senior vice president now owns 17,186 shares in the company, valued at approximately $1,329,165.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,233 shares of company stock worth $2,148,561. Insiders own 1.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ARW. NEXT Financial Group Inc raised its stake in Arrow Electronics by 776.0% in the second quarter. NEXT Financial Group Inc now owns 2,190 shares of the technology company’s stock worth $172,000 after buying an additional 1,940 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Arrow Electronics by 11.0% in the first quarter. Meeder Asset Management Inc. now owns 2,564 shares of the technology company’s stock worth $188,000 after buying an additional 255 shares during the last quarter. Nordea Investment Management AB raised its stake in Arrow Electronics by 87.2% in the first quarter. Nordea Investment Management AB now owns 2,680 shares of the technology company’s stock worth $197,000 after buying an additional 1,248 shares during the last quarter. Advisor Partners LLC acquired a new stake in Arrow Electronics during the first quarter worth $200,000. Finally, Parametrica Management Ltd acquired a new stake in Arrow Electronics during the first quarter worth $208,000. Institutional investors and hedge funds own 94.47% of the company’s stock.

Shares of Arrow Electronics (ARW) traded down 0.10% on Friday, hitting $82.41. 225,438 shares of the company traded hands. Arrow Electronics has a 1-year low of $58.51 and a 1-year high of $82.78. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 14.19 and a beta of 1.13. The firm’s 50 day moving average price is $78.37 and its 200-day moving average price is $74.53.

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About Arrow Electronics

Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.

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