Wall Street brokerages expect Commscope Holding Company Inc (NASDAQ:COMM) to report $2.43 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Commscope’s earnings. The lowest sales estimate is $2.40 billion and the highest is $2.47 billion. Commscope posted sales of $1.15 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 111.3%. The business is expected to report its next earnings results on Thursday, November 14th.
On average, analysts expect that Commscope will report full year sales of $8.63 billion for the current fiscal year, with estimates ranging from $8.50 billion to $8.94 billion. For the next year, analysts anticipate that the firm will post sales of $10.09 billion, with estimates ranging from $9.90 billion to $10.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Commscope.
Commscope (NASDAQ:COMM) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.16. Commscope had a positive return on equity of 23.91% and a negative net margin of 5.03%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year.
Several equities analysts recently weighed in on COMM shares. Raymond James downgraded Commscope from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $25.00 to $21.00 in a research report on Friday, June 14th. Goldman Sachs Group upgraded Commscope from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $20.00 to $19.00 in a research report on Thursday, June 20th. Jefferies Financial Group reduced their target price on Commscope from $28.50 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Northland Securities reiterated a “buy” rating and set a $22.50 target price on shares of Commscope in a research report on Friday, August 9th. Finally, Zacks Investment Research downgraded Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 target price on the stock. in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Commscope has an average rating of “Hold” and an average target price of $19.77.
In other news, Director Frank M. Drendel sold 80,800 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $15.84, for a total value of $1,279,872.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bruce William Mcclelland acquired 3,500 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average price of $18.00 per share, for a total transaction of $63,000.00. The disclosure for this purchase can be found here. Company insiders own 3.25% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Raymond James & Associates purchased a new stake in shares of Commscope in the 4th quarter worth about $359,000. Dimensional Fund Advisors LP lifted its position in shares of Commscope by 24.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock worth $29,187,000 after purchasing an additional 350,675 shares during the period. Bank of America Corp DE lifted its position in shares of Commscope by 2.3% in the 4th quarter. Bank of America Corp DE now owns 507,080 shares of the communications equipment provider’s stock worth $8,311,000 after purchasing an additional 11,174 shares during the period. Legal & General Group Plc lifted its position in shares of Commscope by 24.6% in the 4th quarter. Legal & General Group Plc now owns 362,551 shares of the communications equipment provider’s stock worth $5,943,000 after purchasing an additional 71,671 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Commscope by 4.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 87,592 shares of the communications equipment provider’s stock worth $1,436,000 after purchasing an additional 3,982 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.
NASDAQ COMM traded down $0.75 during trading hours on Wednesday, hitting $10.76. 4,647,915 shares of the company’s stock were exchanged, compared to its average volume of 2,782,012. The stock has a 50 day simple moving average of $14.54. Commscope has a 12-month low of $10.66 and a 12-month high of $31.96. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of 0.27 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 4.28.
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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