Zacks: Brokerages Expect Commscope Holding Company Inc (COMM) Will Announce Quarterly Sales of $1.11 Billion
Brokerages expect Commscope Holding Company Inc (NASDAQ:COMM) to report $1.11 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Commscope’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.11 billion. Commscope posted sales of $1.18 billion in the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Commscope will report full year sales of $1.11 billion for the current year, with estimates ranging from $4.53 billion to $4.56 billion. For the next year, analysts expect that the company will post sales of $4.74 billion per share, with estimates ranging from $4.64 billion to $4.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Commscope.
Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.81 EPS. The business’s revenue was down 12.8% on a year-over-year basis.
Shares of Commscope (COMM) traded up $0.53 during trading hours on Thursday, reaching $37.41. The company’s stock had a trading volume of 2,274,317 shares, compared to its average volume of 2,008,779. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Commscope has a fifty-two week low of $30.95 and a fifty-two week high of $42.75. The company has a market cap of $6,926.57, a PE ratio of 16.81, a PEG ratio of 2.83 and a beta of 1.20.
In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of Commscope stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.33% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC purchased a new position in Commscope during the 2nd quarter valued at about $114,000. Krilogy Financial LLC grew its holdings in Commscope by 5.7% during the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 170 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Commscope by 76.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock valued at $181,000 after buying an additional 2,064 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Commscope during the 2nd quarter valued at about $216,000. Finally, Nordea Investment Management AB purchased a new position in Commscope during the 2nd quarter valued at about $235,000.
ILLEGAL ACTIVITY NOTICE: “Zacks: Brokerages Expect Commscope Holding Company Inc (COMM) Will Announce Quarterly Sales of $1.11 Billion” was published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/07/zacks-brokerages-expect-commscope-holding-company-inc-comm-will-announce-quarterly-sales-of-1-11-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Commscope Holding Company Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope Holding Company Inc and related companies with MarketBeat.com's FREE daily email newsletter.