An issue of Commscope Holding Company Inc (NASDAQ:COMM) debt rose 0.9% as a percentage of its face value during trading on Wednesday. The debt issue has a 5% coupon and will mature on March 15, 2027. The debt is now trading at $94.63 and was trading at $95.00 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
COMM has been the subject of a number of research analyst reports. ValuEngine upgraded Commscope from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BidaskClub upgraded Commscope from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Citigroup restated a “buy” rating and issued a $47.00 price target (up previously from $45.00) on shares of Commscope in a research report on Friday, March 9th. Nomura raised their price target on Commscope to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 12th. Finally, Zacks Investment Research upgraded Commscope from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, April 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.36.
Commscope opened at $28.92 on Friday, MarketBeat Ratings reports. The stock has a market cap of $5.56 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.35 and a beta of 0.97. Commscope Holding Company Inc has a 52 week low of $26.29 and a 52 week high of $41.60. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.73 and a quick ratio of 2.11.
Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Tuesday, May 1st. The communications equipment provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Commscope had a return on equity of 24.08% and a net margin of 4.27%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. sell-side analysts forecast that Commscope Holding Company Inc will post 2.26 earnings per share for the current year.
In related news, COO Morgan C. S. Kurk acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was purchased at an average price of $29.43 per share, for a total transaction of $29,430.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Alexander W. Pease purchased 10,725 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was acquired 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. In the last quarter, insiders have purchased 32,418 shares of company stock valued at $919,187. 3.33% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake in Commscope by 4.8% in the 4th quarter. Amalgamated Bank now owns 37,008 shares of the communications equipment provider’s stock worth $1,400,000 after buying an additional 1,699 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Commscope in the 4th quarter worth about $75,894,000. Kendall Capital Management acquired a new stake in Commscope in the 4th quarter worth about $927,000. Soapstone Management L.P. acquired a new stake in Commscope in the 4th quarter worth about $15,132,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Commscope in the 4th quarter worth about $911,000.
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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