Commscope Holding Company Price Target Raised to $34.00 at Mizuho (COMM)
Mizuho increased their price target on shares of Commscope Holding Company (NASDAQ:COMM) from $30.00 to $34.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Mizuho’s price objective would suggest a potential upside of 36.60% from the company’s current price.
Commscope Holding Company (NASDAQ:COMM) traded up 1.01% during mid-day trading on Friday, hitting $24.89. The stock had a trading volume of 1,596,577 shares. Commscope Holding Company 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 $23.41 and a 200-day moving average of $23.07. The company has a market cap of $4.634 billion and a P/E ratio of 61.75.
Commscope Holding Company (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Commscope Holding Company will post $2.24 EPS for the current fiscal year.
In other Commscope Holding Company news, SVP Philip Martin Armstrong, Jr. sold 30,000 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on COMM. 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. Separately, 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 investment analysts have rated the stock with a buy rating, Commscope Holding Company has a consensus rating of “Buy” and a consensus price target of $27.82.
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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