Arrow Electronics (ARW) Set to Announce Earnings on Thursday

Arrow Electronics (NYSE:ARW) is scheduled to be posting its quarterly earnings results 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

Arrow Electronics (NYSE:ARW) last released its earnings results on Thursday, August 1st. The technology company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.37 EPS. 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 Up 1.1 %

Shares of NYSE:ARW opened at $133.82 on Tuesday. 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 simple moving average of $131.62 and a two-hundred day simple moving average of $128.10. Arrow Electronics has a 12-month low of $108.51 and a 12-month high of $137.39. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 10.52 and a beta of 1.26.

Analyst Upgrades and Downgrades

ARW has been the subject of several recent analyst reports. Truist Financial lifted 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. Wells Fargo & Company increased their price target on shares of Arrow Electronics from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, Raymond James raised their price target on shares of Arrow Electronics from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.