ARRIS International (NASDAQ:ARRS) announced its quarterly earnings results on Thursday. The communications equipment provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $0.80 earnings per share. ARRIS International’s quarterly revenue was down 4.5% compared to the same quarter last year. ARRIS International updated its Q4 guidance to $0.68 EPS.

Shares of NASDAQ:ARRS traded up $0.04 on Friday, reaching $30.72. The company’s stock had a trading volume of 17,455,823 shares, compared to its average volume of 1,962,902. 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. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.65 and a beta of 1.16.

ARRS has been the subject of a number of research reports. TheStreet raised shares of ARRIS International from a “c” rating to a “b-” rating in a research report on Friday, September 21st. Northland Securities reissued a “hold” rating and issued a $23.00 price target on shares of ARRIS International in a research report on Thursday, August 2nd. BidaskClub raised shares of ARRIS International from a “sell” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC cut shares of ARRIS International from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Loop Capital cut shares of ARRIS International from a “buy” rating to a “hold” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.21.

In other ARRIS International news, CEO Bruce William Mcclelland bought 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, with a total value of $36,120.00. Following the completion of the acquisition, the chief executive officer now owns 242,256 shares of the company’s stock, valued at $5,833,524.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ARRS. Russell Investments Group Ltd. increased its stake in shares of ARRIS International by 12.7% during the third quarter. Russell Investments Group Ltd. now owns 868,516 shares of the communications equipment provider’s stock worth $22,569,000 after acquiring an additional 97,977 shares during the period. Oakbrook Investments LLC increased its stake in shares of ARRIS International by 31.7% during the third quarter. Oakbrook Investments LLC now owns 21,600 shares of the communications equipment provider’s stock worth $561,000 after acquiring an additional 5,200 shares during the period. Strs Ohio increased its stake in shares of ARRIS International by 6.0% during the third quarter. Strs Ohio now owns 5,015,000 shares of the communications equipment provider’s stock worth $130,339,000 after acquiring an additional 286,005 shares during the period. Principal Financial Group Inc. increased its stake in shares of ARRIS International by 1.2% during the first quarter. Principal Financial Group Inc. now owns 759,298 shares of the communications equipment provider’s stock worth $20,175,000 after acquiring an additional 8,672 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of ARRIS International by 3.5% during the second quarter. Glenmede Trust Co. NA now owns 1,166,628 shares of the communications equipment provider’s stock worth $28,518,000 after acquiring an additional 39,031 shares during the period. 87.56% of the stock is owned by institutional investors and hedge funds.

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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.

Further Reading: Outstanding Shares and The Effect on Share Price

Earnings History for ARRIS International (NASDAQ:ARRS)

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