Arrow Electronics (NYSE:ARW) Issues Quarterly Earnings Results

Arrow Electronics (NYSE:ARW - Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.15, Briefing.com reports. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The firm had revenue of $6.82 billion during the quarter, compared to analysts' expectations of $6.73 billion. During the same period in the prior year, the company earned $4.14 EPS. The firm's revenue was down 14.8% on a year-over-year basis. Arrow Electronics updated its Q4 guidance to $2.48-2.68 EPS and its Q4 2024 guidance to 2.480-2.680 EPS.

Arrow Electronics Stock Up 2.0 %

Shares of ARW traded up $2.41 during trading on Friday, reaching $121.08. The company's stock had a trading volume of 675,396 shares, compared to its average volume of 467,028. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 11.41 and a beta of 1.26. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average of $131.57 and a two-hundred day moving average of $128.16. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $137.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ARW shares. Raymond James lowered their target price on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday. Wells Fargo & Company lifted 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 decreased their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $124.25.

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.