Research Analysts Issue Forecasts for ARRIS International plc’s Q2 2019 Earnings (ARRS)

ARRIS International plc (NASDAQ:ARRS) – Equities research analysts at Jefferies Group lifted their Q2 2019 EPS estimates for ARRIS International in a research note issued to investors on Thursday. Jefferies Group analyst now forecasts that the communications equipment provider will post earnings of $0.79 per share for the quarter, up from their prior estimate of $0.78. Jefferies Group also issued estimates for ARRIS International’s Q3 2019 earnings at $0.83 EPS.

ARRIS International (NASDAQ:ARRS) last issued its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.12. ARRIS International had a net margin of 1.41% and a return on equity of 14.69%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $0.79 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year.

Several other research analysts have also recently issued reports on ARRS. Zacks Investment Research raised shares of ARRIS International from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, November 7th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Raymond James Financial set a $38.00 price objective on shares of ARRIS International and gave the company a “buy” rating in a report on Monday, December 4th. BidaskClub cut shares of ARRIS International from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Morgan Stanley cut shares of ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 price objective for the company. in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. ARRIS International presently has a consensus rating of “Hold” and a consensus price target of $33.20.

Shares of ARRIS International (ARRS) traded down $0.49 during trading on Monday, hitting $25.42. 2,635,900 shares of the company traded hands, compared to its average volume of 1,684,068. The company has a current ratio of 1.51, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. ARRIS International has a 12-month low of $22.60 and a 12-month high of $30.79. The stock has a market capitalization of $4,750.00, a PE ratio of 51.88, a PEG ratio of 0.99 and a beta of 1.28.

Several hedge funds have recently added to or reduced their stakes in ARRS. FNY Partners Fund LP acquired a new position in ARRIS International during the fourth quarter worth about $100,000. Icon Advisers Inc. Co. acquired a new position in ARRIS International during the fourth quarter worth about $206,000. Capital Fund Management S.A. boosted its position in ARRIS International by 25.5% during the fourth quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock worth $316,000 after acquiring an additional 2,500 shares during the last quarter. Oakbrook Investments LLC acquired a new position in ARRIS International during the fourth quarter worth about $361,000. Finally, Crossmark Global Holdings Inc. acquired a new position in ARRIS International during the third quarter worth about $473,000. 88.43% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Philip Charles Baldock sold 4,930 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $26.11, for a total transaction of $128,722.30. Following the completion of the sale, the senior vice president now owns 13,529 shares of the company’s stock, valued at $353,242.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence Robinson sold 4,167 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $30.00, for a total transaction of $125,010.00. Following the sale, the insider now directly owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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ARRIS International Company Profile

ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.

Earnings History and Estimates for ARRIS International (NASDAQ:ARRS)

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