ARRIS International plc (NASDAQ:ARRS) – Analysts at Jefferies Financial Group upped their FY2018 earnings per share estimates for shares of ARRIS International in a research report issued on Tuesday, October 30th. Jefferies Financial Group analyst now forecasts that the communications equipment provider will earn $2.57 per share for the year, up from their prior forecast of $2.55. Jefferies Financial Group also issued estimates for ARRIS International’s Q4 2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.52 EPS, Q2 2019 earnings at $0.76 EPS, Q3 2019 earnings at $0.92 EPS and FY2019 earnings at $2.94 EPS.
A number of other analysts have also issued reports on ARRS. ValuEngine upgraded shares of ARRIS International from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 10th. Wells Fargo & Co assumed coverage on shares of ARRIS International in a research note on Thursday, July 12th. They set an “outperform” rating and a $32.00 target price on the stock. Northland Securities restated a “hold” rating and set a $23.00 target price on shares of ARRIS International in a research note on Thursday, August 2nd. TheStreet upgraded shares of ARRIS International from a “c” rating to a “b-” rating in a research note on Friday, September 21st. Finally, Raymond James lowered shares of ARRIS International from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $36.00 to $29.00 in a research note on Monday, October 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.63.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Wednesday, August 1st. The communications equipment provider reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. ARRIS International had a return on equity of 16.82% and a net margin of 1.83%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Hawaiian Bank bought a new position in ARRIS International in the 3rd quarter worth approximately $140,000. Cerebellum GP LLC boosted its holdings in ARRIS International by 163.9% in the 2nd quarter. Cerebellum GP LLC now owns 6,913 shares of the communications equipment provider’s stock valued at $169,000 after purchasing an additional 4,293 shares during the period. Delphi Management Inc. MA bought a new position in ARRIS International in the 2nd quarter valued at $212,000. Hartford Investment Management Co. bought a new position in ARRIS International in the 2nd quarter valued at $305,000. Finally, Oakbrook Investments LLC boosted its holdings in ARRIS International by 31.7% in the 3rd quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock valued at $561,000 after purchasing an additional 5,200 shares during the period. 87.39% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Bruce William Mcclelland bought 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost 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 of the company’s stock, valued at $5,833,524.48. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased 5,040 shares of company stock worth $120,666 over the last 90 days. Insiders own 1.00% of the company’s stock.
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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