Arrow Electronics (NYSE:ARW - Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.480-2.680 for the period, compared to the consensus earnings per share estimate of 3.420. The company issued revenue guidance of $6.7 billion-$7.3 billion, compared to the consensus revenue estimate of $7.3 billion. Arrow Electronics also updated its Q4 guidance to $2.48-2.68 EPS.
Analyst Upgrades and Downgrades
ARW has been the subject of several research analyst reports. Truist Financial lifted their price objective on Arrow Electronics from $124.00 to $141.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price objective 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 target price on shares of Arrow Electronics from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Arrow Electronics presently has an average rating of "Hold" and an average target price of $130.75.
View Our Latest Research Report on ARW
Arrow Electronics Stock Performance
Shares of NYSE ARW traded down $17.13 during midday trading on Thursday, hitting $118.67. 1,169,782 shares of the company's stock traded hands, compared to its average volume of 466,040. 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 $6.28 billion, a price-to-earnings ratio of 11.28 and a beta of 1.26. The firm has a fifty day moving average of $131.81 and a 200 day moving average of $128.23. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80.
Arrow Electronics (NYSE:ARW - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.62. Arrow Electronics had a net margin of 1.97% and a return on equity of 12.77%. The business had revenue of $6.89 billion for the quarter, compared to the consensus estimate of $6.52 billion. During the same period last year, the firm earned $4.37 earnings per share. The company's quarterly revenue was down 19.0% on a year-over-year basis. On average, analysts forecast that Arrow Electronics will post 10.74 earnings per share for the current year.
About Arrow Electronics
(
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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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