CommScope Holding Company, Inc. (NASDAQ:COMM) has been given an average recommendation of “Buy” by the sixteen brokerages that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $42.38.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective (down previously from $43.00) on shares of CommScope Holding in a research note on Wednesday, August 9th. Barclays PLC cut CommScope Holding from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $41.00 to $36.00 in a research note on Friday, August 4th. Longbow Research cut CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its holdings in CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 160 shares in the last quarter. Krilogy Financial LLC grew its holdings in CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 170 shares in the last quarter. Financial Architects Inc grew its holdings in CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after buying an additional 322 shares in the last quarter. Parametrica Management Ltd grew its holdings in CommScope Holding by 3.8% in the 2nd quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 396 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in CommScope Holding by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock valued at $1,346,000 after buying an additional 609 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CommScope Holding (NASDAQ COMM) traded up $0.24 during trading on Friday, hitting $33.92. The stock had a trading volume of 1,623,845 shares, compared to its average volume of 1,738,971. CommScope Holding has a one year low of $30.95 and a one year high of $42.75. The company has a market cap of $6,470.65, a PE ratio of 15.70, a P/E/G ratio of 2.65 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 (NASDAQ:COMM) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. CommScope Holding had a return on equity of 29.11% and a net margin of 4.21%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was down 12.8% compared to the same quarter last year. analysts forecast that CommScope Holding will post 2.01 earnings per share for the current fiscal year.
CommScope Holding announced that its board has authorized a share repurchase plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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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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