Brokerages expect that CommScope Holding Company, Inc. (NASDAQ:COMM) will report earnings of $0.61 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CommScope Holding’s earnings, with estimates ranging from $0.59 to $0.63. CommScope Holding posted earnings of $0.71 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.1%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, August 3rd.
On average, analysts expect that CommScope Holding will report full year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.54 to $2.65. For the next year, analysts anticipate that the company will post earnings of $2.99 per share, with EPS estimates ranging from $2.93 to $3.06. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow CommScope Holding.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. CommScope Holding had a return on equity of 36.96% and a net margin of 4.96%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS.
A number of research firms have recently weighed in on COMM. Jefferies Group LLC restated a “buy” rating and issued a $43.00 target price on shares of CommScope Holding in a report on Friday, July 14th. Deutsche Bank AG raised their target price on CommScope Holding from $42.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered CommScope Holding from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Nomura began coverage on CommScope Holding in a report on Thursday, May 25th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, BidaskClub upgraded CommScope Holding from a “hold” rating to a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. CommScope Holding currently has a consensus rating of “Buy” and a consensus price target of $44.20.
In related news, SVP Peter U. Karlsson sold 7,370 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $36.72, for a total transaction of $270,626.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Claudius E. Iv Watts purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average cost of $36.75 per share, with a total value of $551,250.00. The disclosure for this purchase can be found here. Company insiders own 3.33% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Korea Investment CORP acquired a new stake in shares of CommScope Holding during the second quarter worth approximately $3,461,000. Telemus Capital LLC increased its stake in shares of CommScope Holding by 21.1% in the second quarter. Telemus Capital LLC now owns 14,450 shares of the communications equipment provider’s stock worth $550,000 after buying an additional 2,520 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of CommScope Holding during the second quarter worth approximately $290,000. World Asset Management Inc increased its stake in shares of CommScope Holding by 13.3% in the second quarter. World Asset Management Inc now owns 8,275 shares of the communications equipment provider’s stock worth $315,000 after buying an additional 970 shares during the last quarter. Finally, Suffolk Capital Management LLC acquired a new stake in shares of CommScope Holding during the second quarter worth approximately $13,375,000. 98.71% of the stock is owned by institutional investors.
CommScope Holding (COMM) traded down 0.43% on Wednesday, hitting $36.78. The company’s stock had a trading volume of 1,619,031 shares. The firm has a 50 day moving average of $36.99 and a 200-day moving average of $38.32. The stock has a market cap of $7.09 billion, a PE ratio of 29.73 and a beta of 1.19. CommScope Holding has a 12 month low of $28.28 and a 12 month high of $42.75.
CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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