ARRIS International PLC (ARRS) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS
ARRIS International PLC (NASDAQ:ARRS) posted its earnings results on Wednesday. The communications equipment provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18, Bloomberg Earnings reports. ARRIS International PLC had a return on equity of 13.97% and a net margin of 1.90%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.77 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis.
Several analysts have recently weighed in on the company. Zacks Investment Research raised ARRIS International PLC from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Monday, August 7th. BidaskClub downgraded ARRIS International PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Northland Securities reissued a “hold” rating and issued a $24.00 target price on shares of ARRIS International PLC in a report on Thursday, August 3rd. ValuEngine raised ARRIS International PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, TheStreet raised ARRIS International PLC from a “c+” rating to a “b” rating in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $33.38.
In other ARRIS International PLC news, insider Stephen J. Mccaffery sold 12,609 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $30.00, for a total value of $378,270.00. Following the transaction, the insider now owns 9,127 shares of the company’s stock, valued at $273,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
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About ARRIS International PLC
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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