Brokerages expect CommScope Holding Co (NASDAQ:COMM) to announce earnings of $0.47 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for CommScope’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.44. CommScope reported earnings per share of $0.52 in the same quarter last year, which would suggest a negative year over year growth rate of 9.6%. The company is scheduled to issue its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that CommScope will report full year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.57 to $2.67. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.88 per share, with EPS estimates ranging from $2.75 to $2.99. Zacks’ EPS averages are a mean average based on a survey of research firms that cover CommScope.
CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a return on equity of 26.02% and a net margin of 4.25%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share.
Several analysts recently weighed in on COMM shares. Barclays upgraded CommScope from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $43.00 in a report on Wednesday, February 14th. BidaskClub downgraded CommScope from a “hold” rating to a “sell” rating in a report on Saturday, February 24th. Zacks Investment Research downgraded CommScope from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Citigroup lifted their price objective on CommScope to $45.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Northland Securities restated a “hold” rating and issued a $33.00 price objective on shares of CommScope in a report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CommScope has a consensus rating of “Buy” and a consensus target price of $42.78.
In other CommScope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of CommScope stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total value of $1,933,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank M. Drendel sold 58,983 shares of CommScope stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $40.22, for a total value of $2,372,296.26. The disclosure for this sale can be found here. Insiders sold 197,558 shares of company stock worth $7,810,278 in the last quarter. 3.33% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. grew its stake in CommScope by 338.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,944 shares of the communications equipment provider’s stock valued at $149,000 after purchasing an additional 3,044 shares during the last quarter. American International Group Inc. purchased a new position in CommScope in the fourth quarter valued at about $161,000. Koch Industries Inc. purchased a new position in CommScope in the fourth quarter valued at about $201,000. Taurus Asset Management LLC purchased a new position in CommScope in the third quarter valued at about $222,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in CommScope in the fourth quarter valued at about $224,000.
Shares of COMM stock traded down $0.86 on Tuesday, hitting $38.93. The stock had a trading volume of 604,907 shares, compared to its average volume of 1,045,295. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.69 and a quick ratio of 2.07. The company has a market capitalization of $7,470.51, a P/E ratio of 19.27, a PEG ratio of 2.09 and a beta of 1.05. CommScope has a one year low of $30.95 and a one year high of $42.75.
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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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