Wall Street brokerages expect that CommScope Holding Company, Inc. (NASDAQ:COMM) will announce $0.47 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for CommScope Holding’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.45. CommScope Holding posted earnings per share of $0.61 during the same quarter last year, which would suggest a negative year over year growth rate of 23%. The company is expected to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that CommScope Holding will report full-year earnings of $2.14 per share for the current year, with EPS estimates ranging from $2.12 to $2.15. For the next financial year, analysts anticipate that the company will report earnings of $2.60 per share, with EPS estimates ranging from $2.40 to $2.86. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow CommScope Holding.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. CommScope Holding’s quarterly revenue was down 12.8% compared to the same quarter last year.
A number of equities research analysts have weighed in on COMM shares. Citigroup Inc. lifted their price target on shares of CommScope Holding from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of CommScope Holding in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of CommScope Holding from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. ValuEngine cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, BidaskClub cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.30.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in CommScope Holding by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock valued at $602,522,000 after purchasing an additional 183,790 shares during the last quarter. BlackRock Inc. raised its position in CommScope Holding by 19.0% during the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock worth $580,929,000 after buying an additional 2,438,894 shares during the last quarter. Capital Research Global Investors raised its position in CommScope Holding by 478.2% during the 2nd quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock worth $551,533,000 after buying an additional 11,994,126 shares during the last quarter. FMR LLC raised its position in CommScope Holding by 6.6% during the 2nd quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock worth $428,975,000 after buying an additional 702,210 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in CommScope Holding by 29.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,736,824 shares of the communications equipment provider’s stock worth $350,236,000 after buying an additional 2,429,290 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
Shares of CommScope Holding (NASDAQ:COMM) traded down $0.27 on Thursday, hitting $33.57. 1,121,500 shares of the company’s stock were exchanged, compared to its average volume of 2,038,030. CommScope Holding has a 1-year low of $30.95 and a 1-year high of $42.75. The firm has a market capitalization of $6,455.39, a PE ratio of 15.67, a PEG ratio of 2.64 and a beta of 1.16. 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 Holding announced that its board has approved a stock repurchase plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
About CommScope Holding
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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