Arrow Electronics (NYSE:ARW) Releases Q4 2024 Earnings Guidance

Arrow Electronics (NYSE:ARW) 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.

Arrow Electronics Stock Performance

NYSE ARW traded up $2.36 on Friday, hitting $121.03. 675,405 shares of the stock were exchanged, compared to its average volume of 467,028. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.07. The business’s fifty day moving average is $131.33 and its 200 day moving average is $128.18. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80. The company has a market capitalization of $6.41 billion, a PE ratio of 13.51 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. 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 for the quarter, compared to the consensus estimate of $6.73 billion. During the same period in the previous year, the company earned $4.14 earnings per share. The company’s quarterly revenue was down 14.8% on a year-over-year basis. Research analysts anticipate that Arrow Electronics will post 10.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.