Zacks: Brokerages Anticipate ARRIS International PLC (ARRS) to Announce $0.69 Earnings Per Share
Brokerages expect ARRIS International PLC (NASDAQ:ARRS) to announce earnings per share of $0.69 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ARRIS International PLC’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.68. ARRIS International PLC reported earnings of $0.77 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10.4%. The firm is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that ARRIS International PLC will report full year earnings of $2.56 per share for the current year, with EPS estimates ranging from $2.51 to $2.60. For the next financial year, analysts anticipate that the business will post earnings of $2.98 per share, with EPS estimates ranging from $2.86 to $3.10. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover ARRIS International PLC.
ARRIS International PLC (NASDAQ:ARRS) last released its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $0.84 EPS. ARRIS International PLC’s quarterly revenue was down 3.6% on a year-over-year basis.
A number of equities research analysts have weighed in on the company. ValuEngine downgraded ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. BidaskClub downgraded ARRIS International PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Northland Securities restated a “hold” rating and issued a $24.00 target price on shares of ARRIS International PLC in a research report on Thursday, August 3rd. Finally, BTIG Research assumed coverage on ARRIS International PLC in a research report on Thursday, June 15th. They issued a “buy” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.90.
In other news, insider Stephen J. Mccaffery sold 12,609 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $30.00, for a total transaction of $378,270.00. Following the completion of the sale, the insider now owns 9,127 shares in the company, valued at approximately $273,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Potts sold 2,502 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.67, for a total value of $69,230.34. Following the sale, the executive vice president now owns 90,592 shares of the company’s stock, valued at approximately $2,506,680.64. The disclosure for this sale can be found here. Insiders have sold a total of 23,255 shares of company stock valued at $676,591 in the last quarter. Insiders own 0.90% of the company’s stock.
Several large investors have recently made changes to their positions in ARRS. Public Employees Retirement System of Ohio raised its stake in ARRIS International PLC by 2.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock valued at $3,391,000 after purchasing an additional 3,289 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new stake in ARRIS International PLC during the 2nd quarter valued at $233,000. UBS Oconnor LLC acquired a new stake in ARRIS International PLC during the 2nd quarter valued at $1,401,000. Balyasny Asset Management LLC raised its stake in ARRIS International PLC by 376.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 38,635 shares of the communications equipment provider’s stock valued at $1,083,000 after purchasing an additional 30,534 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in ARRIS International PLC by 20.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 132,490 shares of the communications equipment provider’s stock valued at $3,712,000 after purchasing an additional 22,352 shares during the period. Institutional investors own 86.76% of the company’s stock.
ARRIS International PLC (NASDAQ:ARRS) traded up 1.61% during trading on Monday, reaching $27.74. The company had a trading volume of 1,324,698 shares. The firm has a market capitalization of $5.20 billion, a P/E ratio of 41.90 and a beta of 1.30. The company has a 50-day moving average of $27.40 and a 200-day moving average of $27.24. ARRIS International PLC has a 52-week low of $24.75 and a 52-week high of $31.52.
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ARRIS International PLC 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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