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 target on the communications equipment provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.61% from the stock’s current price.
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 issued reports on the stock. Jefferies Group LLC set a $38.00 price target on shares of ARRIS International PLC and gave the company a “buy” rating in a report on Wednesday, October 4th. ValuEngine cut shares of ARRIS International PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Northland Securities restated a “hold” rating and set a $24.00 price objective on shares of ARRIS International PLC in a research note on Thursday, August 3rd. TheStreet upgraded shares of ARRIS International PLC from a “c+” rating to a “b” rating in a research note on Monday, October 9th. Finally, BidaskClub cut shares of ARRIS International PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. ARRIS International PLC presently has an average rating of “Buy” and an average price target of $33.38.
ARRIS International PLC (NASDAQ:ARRS) traded up $0.96 during trading on Tuesday, reaching $28.67. 920,481 shares of the company’s stock were exchanged, compared to its average volume of 1,094,971. The firm has a market capitalization of $5,361.90, a P/E ratio of 12.31, a PEG ratio of 1.24 and a beta of 1.39. The company has a current ratio of 1.83, a quick ratio of 1.43 and a debt-to-equity ratio of 0.65. ARRIS International PLC has a 1 year low of $24.75 and a 1 year high of $31.52.
ARRIS International PLC (NASDAQ:ARRS) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.18. ARRIS International PLC had a net margin of 2.51% and a return on equity of 14.02%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts predict that ARRIS International PLC will post 2.31 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ARRS. Paloma Partners Management Co purchased a new position in ARRIS International PLC during the 1st quarter valued at about $807,000. Capstone Asset Management Co. grew its stake in ARRIS International PLC by 0.3% during the 2nd quarter. Capstone Asset Management Co. now owns 15,751 shares of the communications equipment provider’s stock valued at $441,000 after acquiring an additional 40 shares in the last quarter. Delta Capital Management LLC purchased a new position in ARRIS International PLC during the 2nd quarter valued at about $210,000. Hallmark Capital Management Inc. grew its stake in ARRIS International PLC by 1.0% during the 2nd quarter. Hallmark Capital Management Inc. now owns 471,850 shares of the communications equipment provider’s stock valued at $13,221,000 after acquiring an additional 4,635 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in ARRIS International PLC by 4.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 69,672 shares of the communications equipment provider’s stock valued at $1,952,000 after acquiring an additional 2,886 shares in the last quarter. Hedge funds and other 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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