ARRIS International PLC (NASDAQ:ARRS) Posts Quarterly Earnings Results

ARRIS International PLC (NASDAQ:ARRS) issued its earnings results on Wednesday. The communications equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06, Bloomberg Earnings reports. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. ARRIS International PLC had a net margin of 2.69% and a return on equity of 15.77%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS.

ARRIS International PLC (NASDAQ:ARRS) traded down 1.81% on Wednesday, reaching $27.73. 1,149,935 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $28.28 and its 200 day moving average is $27.58. ARRIS International PLC has a 1-year low of $24.75 and a 1-year high of $31.52. The stock has a market capitalization of $5.21 billion, a P/E ratio of 29.41 and a beta of 1.31.

Several research firms recently commented on ARRS. Jefferies Group LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of ARRIS International PLC in a research report on Thursday, June 8th. BidaskClub lowered shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating on shares of ARRIS International PLC in a research report on Tuesday, May 2nd. ValuEngine lowered shares of ARRIS International PLC from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. Finally, Zacks Investment Research upgraded shares of ARRIS International PLC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.50.

In related news, EVP David Potts sold 8,144 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $28.13, for a total value of $229,090.72. Following the completion of the transaction, the executive vice president now owns 96,234 shares in the company, valued at approximately $2,707,062.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

About ARRIS International PLC

ARRIS International plc is a media entertainment and data communications solutions provider. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The Company enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers.