ARRIS International plc (ARRS) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.20. Analysts had a consensus of $0.64. The company posted revenue of $1730.04 million in the period, compared to analysts expectations of $1697.88 million. The company’s revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
Many Wall Street Analysts have commented on ARRIS International plc. ARRIS International plc was Resumed by Jefferies to “Buy” on Jun 10, 2016. Company shares were Reiterated by Needham on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .Company shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .
ARRIS International plc opened for trading at $27.82 and hit $28.94 on the upside on Thursday, eventually ending the session at $26.98, with a gain of 10.80% or 2.63 points. The heightened volatility saw the trading volume jump to 78,15,860 shares. Company has a market cap of $5,124 M.
In a different news, on May 9, 2016, James R Brennan (SVP, GLOBAL SUPPLY CHAIN) sold 8,500 shares at $25.88 per share price. According to the SEC, on May 9, 2016, Ronald Coppock (PRES, INTL SALES AND MARKETING) sold 5,000 shares at $25.25 per share price. On Mar 9, 2016, Timothy R O’loughlin (PRESIDENT,NORTH AMERICAN SALES) sold 119,567 shares at $29.78 per share price, according to the Form-4 filing with the securities and exchange commission.
ARRIS International plc focuses on the entertainment and communications technology. The Company through its subsidiary ARRIS Group Inc. provides a range of entertainment and communications solutions. 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. The Company focuses on set tops digital video and Internet protocol television (IPTV) distribution systems broadband access infrastructure platforms and associated data and voice customer premises equipment (CPE) which it sells to consumers through retail channels. The Company’s product categories include content delivery and acquisition application and control delivery networks home and business connectivity and devices and video infrastructure. Its services include professional services and systems integration day two services and knowledge services.