CommScope Holding Company, Inc. (COMM) Set to Announce Quarterly Earnings on Wednesday
CommScope Holding Company, Inc. (NASDAQ:COMM) is scheduled to announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.54 per share for the quarter. CommScope Holding has set its Q3 guidance at $0.50-0.55 EPS and its FY17 guidance at $2.15-2.30 EPS.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings data 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 business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue was down 10.2% compared to the same quarter last year. On average, analysts expect CommScope Holding to post $2.07 EPS for the current fiscal year and $2.5 EPS for the next fiscal year.
CommScope Holding Company, Inc. (NASDAQ:COMM) opened at 32.40 on Wednesday. The stock has a market cap of $6.25 billion, a P/E ratio of 27.05 and a beta of 1.18. The stock has a 50 day moving average price of $32.92 and a 200-day moving average price of $35.76. CommScope Holding Company, Inc. has a 12-month low of $29.91 and a 12-month high of $42.75.
CommScope Holding announced that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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Several analysts have issued reports on the company. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective (down previously from $43.00) on shares of CommScope Holding in a research note on Wednesday, August 9th. Northland Securities restated a “hold” rating and set a $28.00 price objective on shares of CommScope Holding in a research note on Thursday, August 10th. Longbow Research cut CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, Barclays PLC cut CommScope Holding from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $41.00 to $36.00 in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $40.73.
In related news, Director Timothy T. Yates bought 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $32.62 per share, with a total value of $163,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Claudius E. Iv Watts bought 15,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by corporate insiders.
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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