Arrow Electronics (NYSE:ARW) Updates Q4 Earnings Guidance

by · The Markets Daily

Arrow Electronics (NYSE:ARW – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.48-2.68 for the period, compared to the consensus estimate of $3.42. The company issued revenue guidance of $6.67-7.27 billion, compared to the consensus revenue estimate of $7.25 billion. Arrow Electronics also updated its Q4 2024 guidance to 2.480-2.680 EPS.

Arrow Electronics Stock Up 2.0 %

NYSE:ARW traded up $2.36 during trading hours on Friday, hitting $121.03. The company’s stock had a trading volume of 675,405 shares, compared to its average volume of 467,028. The stock has a market capitalization of $6.41 billion, a P/E ratio of 13.51 and a beta of 1.27. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $131.33 and a 200-day moving average of $128.15. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a return on equity of 12.77% and a net margin of 1.97%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.14 EPS. On average, equities analysts forecast that Arrow Electronics will post 10.74 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ARW. Raymond James lowered their target price on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday. Wells Fargo & Company upped their price objective on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial cut their target price on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $124.25.

Check Out Our Latest Stock Report on ARW

About Arrow Electronics

(Get Free Report)

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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