Equities research analysts expect Commscope Holding Company Inc (NASDAQ:COMM) to announce $1.23 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Commscope’s earnings, with the highest sales estimate coming in at $1.24 billion and the lowest estimate coming in at $1.23 billion. Commscope posted sales of $1.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The company is scheduled to report its next earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Commscope will report full year sales of $4.76 billion for the current financial year, with estimates ranging from $4.74 billion to $4.80 billion. For the next fiscal year, analysts expect that the company will report sales of $4.92 billion per share, with estimates ranging from $4.84 billion to $4.98 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Commscope.
Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Tuesday, May 1st. The communications equipment provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Commscope had a return on equity of 24.08% and a net margin of 4.27%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share.
Several brokerages have recently commented on COMM. Zacks Investment Research raised Commscope from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, April 17th. Nomura upped their target price on Commscope to $48.00 and gave the company a “buy” rating in a report on Thursday, April 12th. Citigroup reaffirmed a “buy” rating and set a $47.00 target price (up from $45.00) on shares of Commscope in a report on Friday, March 9th. TheStreet downgraded Commscope from a “b-” rating to a “c” rating in a report on Friday, May 11th. Finally, Morgan Stanley reduced their target price on Commscope from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.36.
Shares of Commscope traded down $0.12, hitting $29.20, during trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 38,366 shares, compared to its average volume of 1,362,695. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 2.53. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97. Commscope has a fifty-two week low of $26.29 and a fifty-two week high of $41.60.
In other news, COO Morgan C. S. Kurk bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were bought at an average cost of $29.27 per share, with a total value of $146,350.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alexander W. Pease bought 10,725 shares of the company’s stock in a transaction on Friday, May 4th. The stock was purchased at an average cost of $27.95 per share, for a total transaction of $299,763.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,418 shares of company stock worth $919,187. Insiders own 3.35% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of Commscope by 96.5% during the 1st quarter. Franklin Resources Inc. now owns 8,495,600 shares of the communications equipment provider’s stock valued at $339,576,000 after acquiring an additional 4,172,171 shares during the last quarter. Blue Harbour Group L.P. increased its holdings in shares of Commscope by 45.8% during the 1st quarter. Blue Harbour Group L.P. now owns 7,738,090 shares of the communications equipment provider’s stock valued at $309,291,000 after acquiring an additional 2,431,500 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Commscope during the 1st quarter valued at about $42,916,000. Criterion Capital Management LLC increased its holdings in shares of Commscope by 152.4% during the 1st quarter. Criterion Capital Management LLC now owns 1,750,758 shares of the communications equipment provider’s stock valued at $69,978,000 after acquiring an additional 1,056,996 shares during the last quarter. Finally, Partners Capital Investment Group LLP acquired a new position in shares of Commscope during the 4th quarter valued at about $25,459,000.
Commscope Company Profile
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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