CommScope (NASDAQ:COMM) had its target price increased by research analysts at Nomura to $48.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Nomura’s price objective would indicate a potential upside of 21.09% from the stock’s current price.
COMM has been the topic of several other reports. BidaskClub cut shares of CommScope from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research cut shares of CommScope from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. ValuEngine upgraded shares of CommScope from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Citigroup reiterated 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. Finally, Northland Securities reiterated a “hold” rating and set a $33.00 target price on shares of CommScope in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CommScope currently has a consensus rating of “Buy” and a consensus target price of $43.11.
Shares of CommScope stock opened at $39.64 on Thursday. The company has a current ratio of 2.69, a quick ratio of 2.07 and a debt-to-equity ratio of 2.65. CommScope has a 1 year low of $30.95 and a 1 year high of $42.75. The stock has a market cap of $7,554.96, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05.
CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. CommScope had a net margin of 4.25% and a return on equity of 26.02%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business earned $0.61 EPS. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. equities research analysts forecast that CommScope will post 2.45 earnings per share for the current fiscal year.
In other news, Director Frank M. Drendel sold 58,983 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen C. Gray sold 28,575 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.96, for a total transaction of $1,113,282.00. The disclosure for this sale can be found here. Insiders sold a total of 147,558 shares of company stock worth $5,877,278 over the last 90 days. Company insiders own 3.33% of the company’s stock.
Several large investors have recently added to or reduced their stakes in COMM. AMP Capital Investors Ltd raised its position in shares of CommScope by 64.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 72,036 shares of the communications equipment provider’s stock valued at $2,391,000 after purchasing an additional 28,300 shares during the last quarter. Amalgamated Bank raised its position in shares of CommScope by 4.8% in the 4th quarter. Amalgamated Bank now owns 37,008 shares of the communications equipment provider’s stock valued at $1,400,000 after purchasing an additional 1,699 shares during the last quarter. Telemus Capital LLC raised its position in shares of CommScope by 18.1% in the 4th quarter. Telemus Capital LLC now owns 16,825 shares of the communications equipment provider’s stock valued at $636,000 after purchasing an additional 2,575 shares during the last quarter. Sei Investments Co. raised its position in shares of CommScope by 19.6% in the 4th quarter. Sei Investments Co. now owns 289,211 shares of the communications equipment provider’s stock valued at $10,940,000 after purchasing an additional 47,445 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of CommScope by 19.9% in the 4th quarter. First Republic Investment Management Inc. now owns 147,250 shares of the communications equipment provider’s stock valued at $5,570,000 after purchasing an additional 24,427 shares during the last quarter.
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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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