Equities analysts predict that ARRIS International plc (NASDAQ:ARRS) will post sales of $1.75 billion for the current quarter, according to Zacks. Three analysts have made estimates for ARRIS International’s earnings. The lowest sales estimate is $1.71 billion and the highest is $1.78 billion. ARRIS International reported sales of $1.76 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that ARRIS International will report full year sales of $1.75 billion for the current year, with estimates ranging from $6.59 billion to $6.70 billion. For the next financial year, analysts forecast that the business will post sales of $7.02 billion per share, with estimates ranging from $6.75 billion to $7.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for ARRIS International.
ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. ARRIS International had a net margin of 2.51% and a return on equity of 14.02%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis.
In related news, SVP Patrick W. Macken sold 1,250 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $29.26, for a total value of $36,575.00. Following the completion of the sale, the senior vice president now owns 4,556 shares of the company’s stock, valued at $133,308.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence Robinson sold 4,167 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $30.00, for a total value 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. Corporate insiders own 0.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Capstone Investment Advisors Netherlands B.V. purchased a new stake in ARRIS International in the second quarter worth $233,000. NGAM Advisors L.P. lifted its stake in ARRIS International by 4.6% in the second quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock worth $313,000 after acquiring an additional 489 shares during the period. Fernwood Investment Management LLC lifted its stake in ARRIS International by 16.9% in the second quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock worth $387,000 after acquiring an additional 2,000 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in ARRIS International in the third quarter worth $473,000. Finally, Quantbot Technologies LP purchased a new stake in ARRIS International in the third quarter worth $514,000. 86.64% of the stock is owned by institutional investors.
Shares of ARRIS International (NASDAQ:ARRS) traded down $0.31 during midday trading on Wednesday, reaching $29.34. 2,123,400 shares of the company’s stock were exchanged, compared to its average volume of 1,464,035. ARRIS International has a twelve month low of $24.75 and a twelve month high of $31.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.43. The company has a market capitalization of $5,545.18, a PE ratio of 12.73, a P/E/G ratio of 1.28 and a beta of 1.39.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2017/12/06/1-75-billion-in-sales-expected-for-arris-international-plc-arrs-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ARRIS International plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS International plc and related companies with MarketBeat.com's FREE daily email newsletter.