Commscope Holding Company Inc (COMM) Releases FY14 Earnings Guidance
Commscope Holding Company Inc (NASDAQ:COMM) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.20-2.30 for the period, compared to the Thomson Reuters consensus estimate of $2.10, Analyst Ratings Network reports. The company issued revenue guidance of $3.9 billion, compared to the consensus revenue estimate of $3.85 billion.Commscope Holding Company also updated its Q3 guidance to $0.53-0.58 EPS.
Shares of Commscope Holding Company Inc (NASDAQ:COMM) opened at 24.07 on Thursday. Commscope Holding Company Inc has a 1-year low of $14.72 and a 1-year high of $27.96. The stock has a 50-day moving average of $23.37 and a 200-day moving average of $23.01. The company has a market cap of $4.482 billion and a P/E ratio of 60.33.
Commscope Holding Company (NASDAQ:COMM) last announced its earnings results on Thursday, July 31st. The company reported $0.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company posted $0.58 earnings per share. Commscope Holding Company’s revenue was up 13.3% compared to the same quarter last year. On average, analysts predict that Commscope Holding Company Inc will post $2.12 earnings per share for the current fiscal year.
COMM has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Commscope Holding Company from a neutral rating to an outperform rating in a research note on Wednesday. They now have a $25.70 price target on the stock. On a related note, analysts at Raymond James reiterated an outperform rating on shares of Commscope Holding Company in a research note on Friday, July 11th. They now have a $31.00 price target on the stock, up previously from $30.00. Fourteen research analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus target price of $27.36.
In other Commscope Holding Company news, SVP Philip Martin Armstrong, Jr. sold 30,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $24.12, for a total transaction of $723,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
CommScope Holding Company, Inc is a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks.
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