ARRIS International plc (ARRS) Expected to Post Quarterly Sales of $1.59 Billion

Analysts predict that ARRIS International plc (NASDAQ:ARRS) will post $1.59 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ARRIS International’s earnings. The lowest sales estimate is $1.50 billion and the highest is $1.65 billion. ARRIS International reported sales of $1.58 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The business is scheduled to issue its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that ARRIS International will report full-year sales of $6.79 billion for the current fiscal year, with estimates ranging from $6.54 billion to $7.08 billion. For the next fiscal year, analysts expect that the company will report sales of $6.85 billion, with estimates ranging from $6.48 billion to $7.20 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow ARRIS International.

ARRIS International (NASDAQ:ARRS) last issued its quarterly earnings data on Thursday, February 21st. The communications equipment provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. ARRIS International had a return on equity of 15.14% and a net margin of 1.69%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share.

Several equities analysts have issued reports on the company. BidaskClub lowered ARRIS International from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Zacks Investment Research lowered ARRIS International from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Jefferies Financial Group lowered ARRIS International from a “buy” rating to a “hold” rating and set a $30.73 price objective on the stock. in a report on Sunday, December 2nd. Finally, ValuEngine lowered ARRIS International from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.87.

Shares of ARRS stock traded up $0.04 during mid-day trading on Friday, hitting $31.61. 1,819,900 shares of the stock were exchanged, compared to its average volume of 2,068,485. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 12.49 and a beta of 0.92. ARRIS International has a 12-month low of $21.55 and a 12-month high of $31.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.21 and a current ratio of 1.58.

In other news, insider Daniel T. Whalen sold 9,560 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $31.64, for a total transaction of $302,478.40. Following the completion of the sale, the insider now owns 15,000 shares in the company, valued at $474,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James R. Brennan sold 6,350 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $31.66, for a total transaction of $201,041.00. Following the sale, the senior vice president now owns 46,045 shares of the company’s stock, valued at approximately $1,457,784.70. The disclosure for this sale can be found here. Insiders have sold 45,500 shares of company stock valued at $1,440,043 in the last quarter. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ARRS. US Bancorp DE boosted its stake in shares of ARRIS International by 8.3% during the third quarter. US Bancorp DE now owns 37,066 shares of the communications equipment provider’s stock worth $965,000 after buying an additional 2,849 shares during the period. Commonwealth Bank of Australia acquired a new stake in ARRIS International in the third quarter valued at about $499,000. Ancora Advisors LLC acquired a new stake in ARRIS International in the third quarter valued at about $1,949,000. Tocqueville Asset Management L.P. lifted its position in ARRIS International by 1.8% in the third quarter. Tocqueville Asset Management L.P. now owns 270,223 shares of the communications equipment provider’s stock valued at $7,023,000 after purchasing an additional 4,888 shares during the period. Finally, Lyrical Asset Management LP lifted its position in ARRIS International by 1.1% in the third quarter. Lyrical Asset Management LP now owns 5,675,175 shares of the communications equipment provider’s stock valued at $147,498,000 after purchasing an additional 61,597 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

About ARRIS International

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. The company's Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

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