Zacks: Brokerages Expect CommScope Holding Company, Inc. (NASDAQ:COMM) Will Announce Earnings of $0.61 Per Share
Equities analysts expect CommScope Holding Company, Inc. (NASDAQ:COMM) to announce earnings of $0.61 per share for the current quarter, Zacks reports. Five analysts have provided estimates for CommScope Holding’s earnings. The highest EPS estimate is $0.63 and the lowest is $0.59. CommScope Holding posted earnings of $0.71 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 14.1%. The business is scheduled to announce its next quarterly earnings report 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 fiscal year, with EPS estimates ranging from $2.54 to $2.65. For the next fiscal year, analysts forecast that the business will report earnings of $2.99 per share, with EPS estimates ranging from $2.93 to $3.06. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover CommScope Holding.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 4th. The communications equipment provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. CommScope Holding had a return on equity of 36.96% and a net margin of 4.96%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis.
A number of equities research analysts recently weighed in on COMM shares. Instinet started coverage on CommScope Holding in a report on Thursday, May 25th. They set a “buy” rating and a $45.00 price target for the company. TheStreet cut CommScope Holding from a “b” rating to a “c+” rating in a report on Monday, May 22nd. Zacks Investment Research raised CommScope Holding from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Nomura started coverage on CommScope Holding in a report on Thursday, May 25th. They set a “buy” rating and a $45.00 price target for the company. Finally, Deutsche Bank AG raised their price target on CommScope Holding from $42.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.20.
Shares of CommScope Holding (COMM) opened at 35.74 on Wednesday. CommScope Holding has a one year low of $28.28 and a one year high of $42.75. The stock has a 50 day moving average price of $37.14 and a 200 day moving average price of $38.36. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 28.89 and a beta of 1.19.
In other news, Director Frank M. Drendel sold 15,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $42.18, for a total value of $632,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy T. Yates purchased 3,000 shares of CommScope Holding stock in a transaction dated Monday, May 8th. The stock was bought at an average price of $35.34 per share, for a total transaction of $106,020.00. The disclosure for this purchase can be found here. Insiders sold a total of 37,370 shares of company stock worth $1,487,426 over the last quarter. Corporate insiders own 3.33% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of COMM. Nomura Asset Management Co. Ltd. raised its position in CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 160 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 439 shares in the last quarter. LS Investment Advisors LLC bought a new position in CommScope Holding during the second quarter valued at about $114,000. Financial Architects Inc raised its position in CommScope Holding by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 1,244 shares in the last quarter. Finally, Poplar Forest Capital LLC bought a new position in CommScope Holding during the first quarter valued at about $200,000. Institutional investors and hedge funds own 98.22% of the company’s stock.
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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