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.
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.
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