Arrow Electronics (NYSE:ARW) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Arrow Electronics (NYSE:ARW) announced its earnings results on Tuesday. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.37 by $0.04, Briefing.com reports. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.08 billion. Arrow Electronics had a return on equity of 14.61% and a net margin of 2.28%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.60 earnings per share.

Arrow Electronics Price Performance

Arrow Electronics stock opened at $127.49 on Thursday. The business’s 50-day simple moving average is $124.35 and its 200 day simple moving average is $119.87. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 10.02 and a beta of 1.39. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $147.42. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.46.

Insider Activity at Arrow Electronics

In related news, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares in the company, valued at $1,847,791. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arrow Electronics news, CAO Yun Sung Cho sold 739 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $117.22, for a total transaction of $86,625.58. Following the transaction, the chief accounting officer now owns 1,389 shares in the company, valued at $162,818.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Carine Lamercie Jean-Claude sold 1,495 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $121.00, for a total value of $180,895.00. Following the transaction, the senior vice president now owns 15,271 shares in the company, valued at approximately $1,847,791. The disclosure for this sale can be found here. Insiders have sold a total of 4,134 shares of company stock worth $488,795 over the last 90 days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial decreased their target price on Arrow Electronics from $128.00 to $124.00 and set a “hold” rating on the stock in a report 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.