Arris shares were down 5% in after-hours trading Friday after the supplier of broadband gear and set-tops reduced second quarter guidance amid ongoing industry consolidation and the strengthening USA dollar. The company has a market cap of $4,418 million and the number of outstanding shares has been calculated to be 145,795,000 shares.
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The consensus price target based on 7 analysts covering the stock is now $38.285. Finally, analysts at RBC Capital lowered their price target on shares of ARRIS Group from $38.00 to $36.00 and set an outperform rating on the stock in a research note on Monday, April 20th.
When taking a look at the long term growth, analysts have a mean estimate on ARRIS Group, Inc. of $17.6.
ARRIS Group Inc ( ARRS ), a provider of media entertainment and data communications solutions, on Friday slashed its earnings and revenue guidance for the second quarter, citing stronger than anticipated headwinds, including various pending industry consolidations and a stronger dollar.
ARRIS Group (NASDAQ:ARRS) last released its earnings data on Wednesday, April 29th.
Analysts polled by Thomson Reuters now expect ARRIS to report earnings of $0.56 per share on revenues of $1.29 billion for the quarter. The company is next expected to post earnings numbers on or around 2015-07-30. ARRIS Group now has an average rating of “Buy” and an average price target of $36.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bruce William Mcclelland sold 30,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. This value is based on a simplified scale where 1 is a Buy and 5 is a sell.
ARRIS Group, Inc. (NASDAQ:ARRS) has been identified as a value stock according to Zacks Research. The Company is a developer, manufacturer and supplier of telephony, data, video, construction, rebuild and maintenance equipment for the broadband communications industry.
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Uncertainty and headwinds have been the topic of recent Arris earnings calls, as the vendor deals with M&A activity involving some of its biggest customers, including Time Warner Cable, which is in the process of being acquired by Charter Communications; and as the pending combination of AT&T and DirecTV plays out. (Digeo). On September 1, 2009, ARRIS acquired certain assets of EG Technology, Inc.
