Arrow Electronics (NYSE:ARW) Posts Earnings Results, Beats Expectations By $0.17 EPS

Arrow Electronics (NYSE:ARW) posted its quarterly earnings data on Thursday. The technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.17, Zacks reports. Arrow Electronics had a net margin of 1.40% and a return on equity of 9.69%.

Arrow Electronics Stock Performance

Arrow Electronics stock traded up $0.21 during mid-day trading on Friday, reaching $108.43. The company’s stock had a trading volume of 23,111 shares, compared to its average volume of 486,426. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 14.89 and a beta of 1.26. The business has a 50 day moving average price of $115.21 and a 200-day moving average price of $123.10. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. Arrow Electronics has a twelve month low of $105.00 and a twelve month high of $137.80.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ARW. Truist Financial dropped their price target 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, November 1st. Raymond James dropped their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company dropped their price target on shares of Arrow Electronics from $100.00 to $98.00 and set an “underweight” rating for the company in a research note on Friday, February 7th. Finally, Bank of America lowered shares of Arrow Electronics from a “neutral” rating to an “underperform” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $121.25.

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.