ARRIS International (ARRS) Releases Q4 Earnings Guidance
ARRIS International (NASDAQ:ARRS) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.68 for the period, compared to the Thomson Reuters consensus estimate of $0.80. The company issued revenue guidance of $1.651 billion, compared to the consensus revenue estimate of $1.86 billion.
Several equities research analysts recently commented on ARRS shares. ValuEngine raised ARRIS International from a sell rating to a hold rating in a report on Wednesday. BidaskClub raised ARRIS International from a sell rating to a hold rating in a research note on Thursday. Needham & Company LLC cut ARRIS International from a buy rating to a hold rating in a research note on Thursday. Wells Fargo & Co cut ARRIS International from an outperform rating to a market perform rating in a research note on Thursday. Finally, Royal Bank of Canada cut ARRIS International from an outperform rating to a sector perform rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $30.21.
Shares of ARRS stock opened at $30.72 on Friday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.65 and a beta of 1.16. ARRIS International has a 52-week low of $21.55 and a 52-week high of $30.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59.
In other ARRIS International news, CEO Bruce William Mcclelland purchased 1,500 shares of ARRIS International stock in a transaction on Monday, August 13th. The shares were bought at an average price of $24.08 per share, with a total value of $36,120.00. Following the purchase, the chief executive officer now directly owns 242,256 shares in the company, valued at approximately $5,833,524.48. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
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ARRIS International Company Profile
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.
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