Arris Group (ARRS) Issues Q1 Earnings Guidance

 Source: ABMN Staff   |   Publish date: Wed, 6 Feb 2013, 06:42 PM   |    >> Read article in News website

Arris Group (ARRS) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.22-0.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.23. The company issued revenue guidance of $350-370 million, compared to the consensus revenue estimate of $338.35 million.

Arris Group (ARRS) traded up 0.85% on Wednesday, hitting $16.52. Arris Group (ARRS) has a 1-year low of $10.74 and a 1-year high of $16.93. The stock’s 50-day moving average is currently $15.78. The company’s market cap is $1.873 billion.

Arris Group last announced its earnings results on Wednesday, February 6th. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $344.00 million for the quarter, compared to the consensus estimate of $354.29 million. During the same quarter last year, the company posted $0.21 earnings per share. Arris Group’s revenue was up 22.4% compared to the same quarter last year. Arris Group has set its Q1 guidance at $0.22-0.26 EPS. On average, analysts predict that Arris Group (ARRS) will post $0.93 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on ARRS shares. Analysts at Citigroup reiterated a neutral rating on shares of Arris Group in a research note to investors on Monday, December 24th. They now have a $17.00 price target on the stock, up previously from $15.50. On a related note, analysts at Needham & Company raised their price target on shares of Arris Group from $15.00 to $18.00 in a research note to investors on Friday, December 21st. They now have a buy rating on the stock. They noted that the move was a valuation call. Finally, analysts at Jefferies Group downgraded shares of Arris Group from a buy rating to a hold rating in a research note to investors on Thursday, December 20th. They now have a $14.00 price target on the stock, down previously from $17.00.

Two research analysts have rated the stock with a buy rating, one has assigned an overweight rating, and five have given a hold rating to the stock. The company presently has a consensus rating of overweight and an average target price of $16.07.

ARRIS Group, Inc. (ARRIS) is a global communications technology company. 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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Labels: ARRS, Earnings Guidance, Market News

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