Arrow Electronics (ARW) Set to Announce Earnings on Thursday

Arrow Electronics (NYSE:ARW) will be releasing its earnings data 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.Investors interested in registering for the company’s conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.62. The company had revenue of $6.89 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The firm’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.37 earnings per share. 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 Stock Performance

Shares of ARW opened at $132.36 on Thursday. 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 market capitalization of $7.05 billion, a price-to-earnings ratio of 10.41 and a beta of 1.26. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.39. The stock’s 50-day simple moving average is $131.42 and its 200 day simple moving average is $127.98.

Analysts Set New Price Targets

A number of research firms recently weighed in on ARW. Wells Fargo & Company upped their target price on shares of Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Truist Financial raised their price target on Arrow Electronics from $124.00 to $141.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Raymond James upped their price target on Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research 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. Based on data from MarketBeat, Arrow Electronics presently 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.