ARRIS International (NASDAQ:ARRS) posted its earnings results on Thursday. The communications equipment provider reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01, MarketWatch Earnings reports. ARRIS International had a net margin of 1.83% and a return on equity of 16.82%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. ARRIS International updated its Q4 guidance to $0.68 EPS.
Shares of NASDAQ:ARRS traded up $0.04 during trading on Friday, hitting $30.72. The company’s stock had a trading volume of 17,455,823 shares, compared to its average volume of 1,962,902. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.16. 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 $21.55 and a fifty-two week high of $30.90.
Several analysts recently weighed in on ARRS shares. TheStreet upgraded shares of ARRIS International from a “c” rating to a “b-” rating in a report on Friday, September 21st. Northland Securities reiterated a “hold” rating and issued a $23.00 target price on shares of ARRIS International in a report on Thursday, August 2nd. BidaskClub upgraded shares of ARRIS International from a “sell” rating to a “hold” rating in a report on Thursday. Needham & Company LLC downgraded shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Loop Capital downgraded shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.21.
Large investors have recently bought and sold shares of the business. First Hawaiian Bank acquired a new position in shares of ARRIS International in the third quarter worth $140,000. Delphi Management Inc. MA purchased a new stake in shares of ARRIS International during the 2nd quarter worth $212,000. Hartford Investment Management Co. purchased a new stake in shares of ARRIS International during the 2nd quarter worth $305,000. Commonwealth Bank of Australia purchased a new stake in shares of ARRIS International during the 3rd quarter worth $499,000. Finally, Oakbrook Investments LLC lifted its position in shares of ARRIS International by 31.7% during the 3rd quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock worth $561,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 87.56% 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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