ARRIS International PLC (NASDAQ:ARRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, November 7th. The brokerage presently has a $32.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.89% from the stock’s previous close.
According to Zacks, “ARRIS performed well on the bottom line front in the third quarter driven by its strong product portfolio. Given its impressive earnings history we expect the company to perform well in the final quarter of 2017 too. The company expects earnings (adjusted) between 74 cents and 80 cents in the fourth quarter of 2017. We are also impressed by the company's efforts to reward shareholders through buybacks. ARRIS has bought back 5.7 million shares for $147 million so far this year. ARRIS has recenty inked several deals to broaden its product portfolio. In February 2017, the company entered into a deal with Broadcom to purchase Brocade Communication's Ruckus Wireless and ICX Switch units. The deal is expected to close by year-end. However, the company's revenue related woes are concerning. It reported lower-than-expected revenues in third-quarter. Shares of the company have underperformed its industry so far this year.”
Several other equities analysts also recently commented on ARRS. ValuEngine raised ARRIS International PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub downgraded ARRIS International PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. TheStreet raised ARRIS International PLC from a “c+” rating to a “b” rating in a research report on Monday, October 9th. Northland Securities set a $25.00 price target on ARRIS International PLC and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Jefferies Group LLC set a $38.00 price target on ARRIS International PLC and gave the stock a “buy” rating in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.38.
ARRIS International PLC (NASDAQ ARRS) opened at $29.12 on Tuesday. The company has a market capitalization of $5,450.00, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.83 and a quick ratio of 1.43. ARRIS International PLC has a 12-month low of $24.75 and a 12-month high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.77 billion. ARRIS International PLC had a return on equity of 14.02% and a net margin of 2.51%. ARRIS International PLC’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. equities research analysts expect that ARRIS International PLC will post 2.31 earnings per share for the current fiscal year.
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In related news, SVP Patrick W. Macken sold 1,250 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $29.26, for a total transaction of $36,575.00. Following the completion of the sale, the senior vice president now directly owns 4,556 shares in the company, valued at approximately $133,308.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Capstone Asset Management Co. raised its stake in ARRIS International PLC by 0.3% in the second quarter. Capstone Asset Management Co. now owns 15,751 shares of the communications equipment provider’s stock valued at $441,000 after buying an additional 40 shares during the last quarter. NGAM Advisors L.P. raised its stake in shares of ARRIS International PLC 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 purchasing an additional 489 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of ARRIS International PLC by 1.6% in the second quarter. Miller Howard Investments Inc. NY now owns 87,844 shares of the communications equipment provider’s stock worth $2,461,000 after purchasing an additional 1,398 shares during the last quarter. Fernwood Investment Management LLC raised its stake in shares of ARRIS International PLC 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 purchasing an additional 2,000 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of ARRIS International PLC by 16.4% in the second quarter. LS Investment Advisors LLC now owns 14,696 shares of the communications equipment provider’s stock worth $412,000 after purchasing an additional 2,072 shares during the last quarter. Institutional investors own 87.02% of the company’s stock.
ARRIS International PLC 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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