Brokers Set Expectations for ARRIS International plc’s FY2017 Earnings (ARRS)

ARRIS International plc (NASDAQ:ARRS) – Equities research analysts at Jefferies Group issued their FY2017 earnings per share estimates for ARRIS International in a research note issued to investors on Monday, Zacks Investment Research reports. Jefferies Group analyst forecasts that the communications equipment provider will earn $2.29 per share for the year. Jefferies Group currently has a “Buy” rating and a $38.00 target price on the stock. Jefferies Group also issued estimates for ARRIS International’s Q4 2017 earnings at $0.69 EPS, Q1 2018 earnings at $0.55 EPS, Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.71 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.57 EPS.

ARRIS International (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company posted $0.77 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of ARRIS International from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Raymond James Financial set a $38.00 target price on shares of ARRIS International and gave the company a “buy” rating in a research note on Monday, December 4th. ValuEngine raised shares of ARRIS International from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Northland Securities set a $25.00 target price on shares of ARRIS International and gave the company a “hold” rating in a research note on Monday, October 16th. Finally, Morgan Stanley lowered shares of ARRIS International from an “overweight” rating to an “equal weight” rating and set a $31.00 target price for the company. in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.00.

ARRIS International (NASDAQ ARRS) traded down $0.02 during midday trading on Wednesday, reaching $25.49. 1,275,967 shares of the company’s stock traded hands, compared to its average volume of 1,265,989. ARRIS International has a 12-month low of $24.75 and a 12-month high of $30.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 1.83. The stock has a market cap of $4,770.00, a PE ratio of 29.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40.

In related news, SVP Philip Charles Baldock sold 4,930 shares of ARRIS International stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $26.11, for a total value of $128,722.30. Following the completion of the sale, the senior vice president now owns 13,529 shares of the company’s stock, valued at approximately $353,242.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lawrence Robinson sold 4,167 shares of ARRIS International stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $30.00, for a total transaction of $125,010.00. Following the completion of the sale, the insider now directly owns 71,721 shares of the company’s stock, valued at approximately $2,151,630. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,347 shares of company stock valued at $290,307. 0.90% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its holdings in ARRIS International by 2.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 121,007 shares of the communications equipment provider’s stock worth $3,391,000 after acquiring an additional 3,289 shares during the period. Amalgamated Bank raised its holdings in ARRIS International by 18.3% in the 2nd quarter. Amalgamated Bank now owns 35,507 shares of the communications equipment provider’s stock worth $995,000 after acquiring an additional 5,488 shares during the period. New York State Common Retirement Fund raised its holdings in ARRIS International by 0.6% in the 3rd quarter. New York State Common Retirement Fund now owns 1,234,560 shares of the communications equipment provider’s stock worth $35,173,000 after acquiring an additional 7,610 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new position in ARRIS International in the 2nd quarter worth $233,000. Finally, Meeder Asset Management Inc. raised its holdings in ARRIS International by 38.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 30,371 shares of the communications equipment provider’s stock worth $865,000 after acquiring an additional 8,496 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.

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ARRIS International Company Profile

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.

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