Zacks: Analysts Anticipate ARRIS International plc (ARRS) Will Announce Quarterly Sales of $1.71 Billion
Brokerages expect ARRIS International plc (NASDAQ:ARRS) to post $1.71 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for ARRIS International’s earnings. The highest sales estimate is $1.73 billion and the lowest is $1.70 billion. ARRIS International reported sales of $1.73 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The firm is scheduled to announce its next earnings results on Wednesday, November 7th.
On average, analysts expect that ARRIS International will report full year sales of $6.86 billion for the current year, with estimates ranging from $6.85 billion to $6.87 billion. For the next year, analysts expect that the firm will report sales of $6.95 billion, with estimates ranging from $6.70 billion to $7.22 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for ARRIS International.
ARRIS International (NASDAQ:ARRS) last announced its quarterly earnings data on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share.
ARRS stock traded up $0.28 during midday trading on Wednesday, reaching $23.13. The company had a trading volume of 1,094,756 shares, compared to its average volume of 1,386,663. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.67. ARRIS International has a fifty-two week low of $22.33 and a fifty-two week high of $30.00. The company has a market cap of $4.69 billion, a P/E ratio of 9.52, a PEG ratio of 1.54 and a beta of 1.23.
In other ARRIS International news, CEO Bruce William Mcclelland acquired 1,500 shares of ARRIS International stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $24.08 per share, for a total transaction of $36,120.00. Following the completion of the transaction, the chief executive officer now owns 242,256 shares in the company, valued at approximately $5,833,524.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 5,040 shares of company stock valued at $120,666. Insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Delphi Management Inc. MA acquired a new stake in ARRIS International in the second quarter worth approximately $212,000. Glenmede Trust Co. NA increased its holdings in shares of ARRIS International by 3.5% in the second quarter. Glenmede Trust Co. NA now owns 1,166,628 shares of the communications equipment provider’s stock valued at $28,518,000 after buying an additional 39,031 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of ARRIS International by 561.2% in the second quarter. Putnam Investments LLC now owns 153,180 shares of the communications equipment provider’s stock valued at $3,745,000 after buying an additional 130,013 shares in the last quarter. Paloma Partners Management Co increased its holdings in shares of ARRIS International by 9.0% in the second quarter. Paloma Partners Management Co now owns 52,562 shares of the communications equipment provider’s stock valued at $1,284,000 after buying an additional 4,345 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new position in shares of ARRIS International in the second quarter valued at $532,000. Hedge funds and other institutional investors own 87.26% of the company’s stock.
About ARRIS International
ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments: Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.
Further Reading: Beta
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