Commscope (COMM) Updates FY18 Earnings Guidance

Commscope (NASDAQ:COMM) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.56-2.71 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.59. The company issued revenue guidance of $4.675-4.825 billion, compared to the consensus revenue estimate of $4.77 billion.Commscope also updated its Q1 guidance to $0.44-0.49 EPS.

Commscope (NASDAQ COMM) opened at $38.88 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93. Commscope has a 12 month low of $30.95 and a 12 month high of $42.75. The company has a market cap of $7,420.00, a P/E ratio of 39.27, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

Commscope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. sell-side analysts expect that Commscope will post 2.01 earnings per share for the current year.

COMM has been the subject of a number of research reports. Citigroup boosted their price target on shares of Commscope from $39.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, November 2nd. BidaskClub cut shares of Commscope from a strong-buy rating to a buy rating in a research note on Wednesday, December 20th. Zacks Investment Research raised shares of Commscope from a hold rating to a buy rating and set a $36.00 price objective for the company in a research note on Thursday, October 19th. ValuEngine cut shares of Commscope from a buy rating to a hold rating in a research note on Saturday, November 4th. Finally, Northland Securities reaffirmed a hold rating on shares of Commscope in a research note on Friday, November 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $41.50.

In other news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank M. Drendel sold 5,284 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The disclosure for this sale can be found here. Insiders sold a total of 180,284 shares of company stock valued at $6,807,245 in the last ninety days. 3.33% of the stock is owned by corporate insiders.

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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.

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