Commscope (COMM) Announces Earnings Results, Meets Expectations

Commscope (NASDAQ:COMM) issued its earnings results on Thursday. The communications equipment provider reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47, Bloomberg Earnings reports. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Commscope’s revenue for the quarter was down 5.0% on a year-over-year basis. Commscope updated its Q1 guidance to $0.44-0.49 EPS and its FY18 guidance to $2.56-2.71 EPS.

Commscope (COMM) opened at $38.88 on Thursday. Commscope has a 52-week low of $30.95 and a 52-week high of $42.75. The stock has a market capitalization of $7,420.00, a P/E ratio of 39.27, a PEG ratio of 2.38 and a beta of 1.13. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78.

Several research firms have commented on COMM. Barclays upgraded Commscope from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $42.00 to $43.00 in a research report on Wednesday. BidaskClub upgraded Commscope from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Longbow Research upgraded Commscope from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Citigroup upped their price objective on Commscope to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, ValuEngine upgraded Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $41.50.

In other news, Director Frank M. Drendel sold 5,284 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.01, for a total transaction of $200,844.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 180,284 shares of company stock worth $6,807,245 in the last quarter. Insiders own 3.33% of the company’s stock.

Large investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Commscope by 338.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,944 shares of the communications equipment provider’s stock valued at $149,000 after buying an additional 3,044 shares in the last quarter. American International Group Inc. purchased a new position in shares of Commscope during the 4th quarter valued at approximately $161,000. Koch Industries Inc. purchased a new position in shares of Commscope during the 4th quarter valued at approximately $201,000. Taurus Asset Management LLC purchased a new position in shares of Commscope during the 3rd quarter valued at approximately $222,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Commscope during the 4th quarter valued at approximately $224,000.

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Commscope 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.

Earnings History for Commscope (NASDAQ:COMM)

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