ARRIS International plc (ARRS) Expected to Post Quarterly Sales of $1.60 Billion

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Wall Street brokerages expect ARRIS International plc (NASDAQ:ARRS) to post $1.60 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for ARRIS International’s earnings. The highest sales estimate is $1.65 billion and the lowest is $1.51 billion. ARRIS International reported sales of $1.58 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The firm is scheduled to announce its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that ARRIS International will report full-year sales of $6.80 billion for the current year, with estimates ranging from $6.54 billion to $7.08 billion. For the next financial year, analysts forecast that the company will report sales of $6.91 billion, with estimates ranging from $6.48 billion to $7.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ARRIS International.

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

A number of equities research analysts have recently issued reports on ARRS shares. Jefferies Financial Group lowered ARRIS International from a “buy” rating to a “hold” rating and lowered their target price for the company from $38.00 to $31.75 in a research note on Monday, November 26th. Zacks Investment Research upgraded ARRIS International from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, December 17th. BidaskClub upgraded ARRIS International from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. Finally, ValuEngine upgraded ARRIS International from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. ARRIS International presently has a consensus rating of “Hold” and a consensus price target of $30.03.

In related news, 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 value of $201,041.00. Following the completion of the transaction, the senior vice president now owns 46,045 shares of the company’s stock, valued at $1,457,784.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $302,478.40. Following the completion of the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $474,600. The disclosure for this sale can be found here. Insiders sold 29,977 shares of company stock valued at $948,740 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. grace capital boosted its holdings in ARRIS International by 37.5% in the fourth quarter. grace capital now owns 5,500 shares of the communications equipment provider’s stock valued at $168,000 after purchasing an additional 1,500 shares during the last quarter. Delta Capital Management LLC purchased a new position in ARRIS International in the fourth quarter valued at about $227,000. Cerebellum GP LLC purchased a new position in ARRIS International in the fourth quarter valued at about $254,000. Commonwealth Bank of Australia purchased a new position in ARRIS International in the third quarter valued at about $499,000. Finally, Exane Asset Management purchased a new position in ARRIS International in the fourth quarter valued at about $629,000. 82.64% of the stock is owned by hedge funds and other institutional investors.

ARRS stock opened at $31.66 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.58 and a debt-to-equity ratio of 0.68. ARRIS International has a 1 year low of $21.55 and a 1 year high of $31.74. The stock has a market capitalization of $5.51 billion, a PE ratio of 12.41 and a beta of 0.92.

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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