ARRIS International (ARRS) Announces Earnings Results, Beats Expectations By $0.01 EPS
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.
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
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