ARRIS International PLC (ARRS) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of ARRIS International PLC (NASDAQ:ARRS) from a hold rating to a buy rating in a report released on Tuesday. The firm currently has $32.00 price objective on the communications equipment provider’s stock.
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.”
A number of other analysts also recently weighed in on ARRS. ValuEngine upgraded ARRIS International PLC from a hold rating to a buy rating in a report on Monday, October 2nd. BidaskClub downgraded ARRIS International PLC from a hold rating to a sell rating in a report on Wednesday, August 23rd. TheStreet upgraded ARRIS International PLC from a c+ rating to a b rating in a 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 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 report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. ARRIS International PLC has a consensus rating of Buy and an average target price of $33.38.
ARRIS International PLC (NASDAQ:ARRS) traded up $0.11 during midday trading on Tuesday, reaching $28.02. The company had a trading volume of 644,312 shares, compared to its average volume of 1,502,890. The firm has a market capitalization of $5,250.00, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38. ARRIS International PLC has a 1-year low of $24.75 and a 1-year high of $31.52. The company has a quick ratio of 1.43, a current ratio of 1.83 and a debt-to-equity ratio of 0.65.
ARRIS International PLC (NASDAQ:ARRS) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. ARRIS International PLC had a return on equity of 14.02% and a net margin of 2.51%. 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 prior year, the business posted $0.77 earnings per share. ARRIS International PLC’s quarterly revenue was down .2% on a year-over-year basis. sell-side analysts anticipate that ARRIS International PLC will post 2.31 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its position in shares of 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 worth $441,000 after purchasing an additional 40 shares in the last quarter. NGAM Advisors L.P. lifted its position in ARRIS International PLC by 4.6% in the 2nd quarter. NGAM Advisors L.P. now owns 11,170 shares of the communications equipment provider’s stock valued at $313,000 after acquiring an additional 489 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in ARRIS International PLC by 1.6% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 87,844 shares of the communications equipment provider’s stock valued at $2,461,000 after acquiring an additional 1,398 shares in the last quarter. Fernwood Investment Management LLC lifted its position in ARRIS International PLC by 16.9% in the 2nd quarter. Fernwood Investment Management LLC now owns 13,800 shares of the communications equipment provider’s stock valued at $387,000 after acquiring an additional 2,000 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in ARRIS International PLC by 16.4% in the 2nd quarter. LS Investment Advisors LLC now owns 14,696 shares of the communications equipment provider’s stock valued at $412,000 after acquiring an additional 2,072 shares in the last quarter. 86.85% of the stock is currently owned by institutional investors.
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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