CommScope Holding Company, Inc. (COMM) Expected to Post Quarterly Sales of $1.13 Billion
Wall Street analysts expect CommScope Holding Company, Inc. (NASDAQ:COMM) to post sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CommScope Holding’s earnings. The highest sales estimate is $1.14 billion and the lowest is $1.13 billion. CommScope Holding posted sales of $1.29 billion during the same quarter last year, which would suggest a negative year over year growth rate of 12.4%. The firm is expected to announce its next earnings report on Thursday, November 2nd.
On average, analysts expect that CommScope Holding will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.52 billion to $4.58 billion. For the next financial year, analysts expect that the company will post sales of $4.92 billion per share, with estimates ranging from $4.60 billion to $5.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CommScope Holding.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis.
A number of brokerages recently issued reports on COMM. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Northland Securities restated a “hold” rating and set a $28.00 price target on shares of CommScope Holding in a report on Thursday, August 10th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price target (down previously from $43.00) on shares of CommScope Holding in a report on Wednesday, August 9th. Cross Research downgraded CommScope Holding from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Longbow Research downgraded CommScope Holding from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.45.
In other news, Director Timothy T. Yates acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank M. Drendel sold 15,000 shares of CommScope Holding stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.94, for a total value of $584,100.00. The disclosure for this sale can be found here. Insiders own 3.33% of the company’s stock.
A number of hedge funds have recently bought and sold shares of COMM. Nomura Asset Management Co. Ltd. boosted its stake 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 during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake 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 during the last quarter. LS Investment Advisors LLC purchased a new stake in CommScope Holding during the second quarter valued at $114,000. Financial Architects Inc boosted its stake 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 during the last quarter. Finally, Poplar Forest Capital LLC purchased a new stake in CommScope Holding during the first quarter valued at $200,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.
CommScope Holding (NASDAQ:COMM) traded up 1.04% during midday trading on Tuesday, hitting $32.94. The company’s stock had a trading volume of 1,436,296 shares. The company has a market cap of $6.36 billion, a PE ratio of 27.50 and a beta of 1.17. The stock has a 50 day moving average of $35.74 and a 200 day moving average of $38.10. CommScope Holding has a 52-week low of $28.28 and a 52-week high of $42.75.
CommScope Holding announced that its board has authorized a stock buyback plan on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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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