$1.61 Billion in Sales Expected for ARRIS Group Inc. (ARRS) This Quarter

Equities research analysts expect that ARRIS Group Inc. (NASDAQ:ARRS) will announce $1.61 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ARRIS Group’s earnings, with the highest sales estimate coming in at $1.62 billion and the lowest estimate coming in at $1.60 billion. ARRIS Group reported sales of $1.48 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The business is expected to report its next quarterly earnings results on Wednesday, May 2nd.

On average, analysts expect that ARRIS Group will report full year sales of $1.61 billion for the current financial year, with estimates ranging from $7.10 billion to $7.32 billion. For the next financial year, analysts forecast that the company will post sales of $7.30 billion per share, with estimates ranging from $7.10 billion to $7.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover ARRIS Group.

How to Become a New Pot Stock Millionaire

ARRIS Group (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, February 14th. The communications equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.12. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. ARRIS Group had a return on equity of 14.69% and a net margin of 1.41%. ARRIS Group’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS.

A number of brokerages have issued reports on ARRS. Barclays reaffirmed an “equal weight” rating and set a $31.00 price target on shares of ARRIS Group in a report on Thursday, March 22nd. BidaskClub upgraded ARRIS Group from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Raymond James Financial set a $36.00 target price on ARRIS Group and gave the stock a “buy” rating in a research report on Thursday, December 14th. ValuEngine cut ARRIS Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research cut ARRIS Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.22.

NASDAQ ARRS traded down $0.11 during trading on Wednesday, reaching $26.45. 918,886 shares of the company’s stock were exchanged, compared to its average volume of 1,568,897. The company has a market capitalization of $4,919.94, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.51 and a quick ratio of 1.08. ARRIS Group has a 1 year low of $22.60 and a 1 year high of $30.38.

ARRIS Group announced that its board has approved a share buyback program on Thursday, March 22nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

In related news, EVP David Potts sold 4,191 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $26.50, for a total value of $111,061.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Philip Charles Baldock sold 1,304 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $26.30, for a total value of $34,295.20. Following the completion of the transaction, the senior vice president now owns 11,207 shares in the company, valued at approximately $294,744.10. The disclosure for this sale can be found here. In the last quarter, insiders have bought 9,500 shares of company stock worth $241,440 and have sold 9,914 shares worth $261,576. 1.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Capital Fund Management S.A. increased its position in ARRIS Group by 25.5% in the 4th quarter. Capital Fund Management S.A. now owns 12,300 shares of the communications equipment provider’s stock valued at $316,000 after acquiring an additional 2,500 shares during the period. FNY Partners Fund LP acquired a new position in ARRIS Group in the 4th quarter valued at about $100,000. American International Group Inc. increased its position in ARRIS Group by 1.2% in the 4th quarter. American International Group Inc. now owns 365,302 shares of the communications equipment provider’s stock valued at $9,385,000 after acquiring an additional 4,190 shares during the period. UBS Asset Management Americas Inc. increased its position in ARRIS Group by 3.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 150,457 shares of the communications equipment provider’s stock valued at $3,865,000 after acquiring an additional 4,375 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in ARRIS Group by 27.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 21,163 shares of the communications equipment provider’s stock valued at $544,000 after acquiring an additional 4,572 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

TRADEMARK VIOLATION WARNING: “$1.61 Billion in Sales Expected for ARRIS Group Inc. (ARRS) This Quarter” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/3344173/1-61-billion-in-sales-expected-for-arris-group-inc-arrs-this-quarter.html.

About ARRIS Group

ARRIS International plc, together with its subsidiaries, provides entertainment, communications, and networking technology and solutions worldwide. It operates through three segments, Customer Premises Equipment, Network & Cloud, and Enterprise Networks. The Customer Premises Equipment segment offers digital subscriber lines and cable modems, broadband gateways, set-top boxes, and video gateways.

Get a free copy of the Zacks research report on ARRIS Group (ARRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ARRIS Group (NASDAQ:ARRS)

Receive News & Ratings for ARRIS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARRIS Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Baker Hughes, a GE  Given a $34.00 Price Target at Jefferies Group
Baker Hughes, a GE Given a $34.00 Price Target at Jefferies Group
PFSweb  Upgraded to C by TheStreet
PFSweb Upgraded to C by TheStreet
Macquarie Infrastructure  Given a $45.00 Price Target by SunTrust Banks Analysts
Macquarie Infrastructure Given a $45.00 Price Target by SunTrust Banks Analysts
Alphabet  and The Competition Critical Comparison
Alphabet and The Competition Critical Comparison
Comparing Angle Energy  and Crusader Energy Group
Comparing Angle Energy and Crusader Energy Group
Brokerages Set Marriott International  Price Target at $128.50
Brokerages Set Marriott International Price Target at $128.50


Leave a Reply

© 2006-2018 Ticker Report. Google+.