Brokerages Expect ARRIS International plc (ARRS) Will Announce Quarterly Sales of $1.71 Billion

Analysts expect ARRIS International plc (NASDAQ:ARRS) to post sales of $1.71 billion for the current quarter, according to Zacks. Four analysts have made estimates for ARRIS International’s earnings, with the lowest sales estimate coming in at $1.70 billion and the highest estimate coming in at $1.73 billion. ARRIS International reported sales of $1.73 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The company is scheduled to announce its next earnings results after the market closes on Thursday, November 8th.

On average, analysts expect that ARRIS International will report full-year sales of $6.88 billion for the current year, with estimates ranging from $6.85 billion to $6.93 billion. For the next year, analysts forecast that the company will report sales of $6.97 billion, with estimates ranging from $6.73 billion to $7.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ARRIS International.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.71 billion. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share.

Several equities analysts have commented on ARRS shares. ValuEngine upgraded ARRIS International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 24th. TheStreet upgraded ARRIS International from a “c” rating to a “b-” rating in a report on Friday, September 21st. Wells Fargo & Co started coverage on ARRIS International in a report on Thursday, July 12th. They set an “outperform” rating and a $32.00 price target on the stock. BidaskClub upgraded ARRIS International from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Finally, Loop Capital downgraded ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.29.

In related news, CEO Bruce William Mcclelland acquired 1,500 shares of the stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $24.08 per share, for a total transaction of $36,120.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in shares of ARRIS International in the third quarter worth $140,000. Cerebellum GP LLC grew its stake in shares of ARRIS International by 163.9% in the second quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock worth $169,000 after acquiring an additional 4,293 shares during the last quarter. Delphi Management Inc. MA acquired a new stake in shares of ARRIS International in the second quarter worth $212,000. Hartford Investment Management Co. acquired a new stake in shares of ARRIS International in the second quarter worth $305,000. Finally, Commonwealth Bank of Australia acquired a new stake in shares of ARRIS International in the third quarter worth $499,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

ARRS traded up $2.89 during midday trading on Friday, hitting $30.68. 74,848,471 shares of the company’s stock traded hands, compared to its average volume of 1,781,003. The firm has a market cap of $4.50 billion, a PE ratio of 12.63, a PEG ratio of 1.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.16 and a current ratio of 1.59. ARRIS International has a one year low of $21.55 and a one year high of $30.90.

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

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