Analysts expect CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) to show $2.26 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates of CommScope’s earnings, with estimates ranging from $2.24 billion to $2.29 billion. CommScope reported sales of $2.19 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 3.2%. The company is due to release its next results on Monday, January 1.
On average, analysts expect CommScope to report annual sales of $9.11 billion for the current fiscal year, with estimates ranging from $8.94 billion to $9.35 billion. For the next fiscal year, analysts expect the company to report sales of $9.47 billion, with estimates ranging from $9.09 billion to $10.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts who cover CommScope.
CommScope (NASDAQ: COMM – Get a rating) last released its quarterly earnings data on Thursday, May 5. The communications equipment provider reported EPS of $0.26 for the quarter, beating analyst consensus estimates of $0.15 by $0.11. The company posted revenue of $2.23 billion in the quarter, versus a consensus estimate of $2.07 billion. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. CommScope’s revenue for the quarter increased 7.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.27.
A number of brokerages have recently released reports on COMM. Citigroup cut its price target on CommScope from $8.50 to $6.00 in a Friday, May 6 research report. Goldman Sachs Group downgraded CommScope from a “buy” rating to a “neutral” rating and reduced its price target for the stock from $18.00 to $9.00 in a Friday, April 1 research report . Credit Suisse Group raised its price target on CommScope shares from $10.00 to $11.00 and gave the company a “neutral” rating in a Friday, Feb. 18 report. Raymond James downgraded CommScope shares from a “market performer” rating to an “underperformer” rating in a Monday, April 11 report. Finally, Bank of America downgraded CommScope shares from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $12.00 to $8.00 in a report from the Friday, March 25. Two analysts gave the stock a sell rating, seven gave the company a hold rating and three gave the company a buy rating. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.40.
Shares of COMM stock opened at $8.05 on Monday. The company’s fifty-day simple moving average is $6.98 and its 200-day simple moving average is $8.78. The company has a market capitalization of $1.67 billion, a PE ratio of -2.93, a PEG ratio of 0.21 and a beta of 1.67. CommScope has a 12-month low of $5.94 and a 12-month high of $22.18.
Separately, director Claudius E. Iv Watts acquired 6,000 shares of the company in a transaction on Thursday, March 10. The shares were acquired at an average price of $7.26 per share, for a total transaction of $43,560.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, SVP Farid Firouzbakht acquired 10,000 shares of the company in a transaction on Wednesday, May 11. The shares were purchased at an average price of $6.97 per share, with a total value of $69,700.00. Following the transaction, the senior vice president now owns 149,824 shares of the company, valued at approximately $1,044,273.28. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 79,927 shares of the company worth $642,771. 2.40% of the shares are held by company insiders.
Several institutional investors have recently changed their stake in the company. Chartwell Investment Partners LLC increased its position in CommScope shares by 112.7% during the third quarter. Chartwell Investment Partners LLC now owns 144,949 shares of the communications equipment provider worth $1,970,000 after buying an additional 76,816 shares in the last quarter. New Jersey State Joint Pension Fund D increased its holdings in CommScope by 64.3% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 290,147 shares of the communications equipment provider worth $3,203,000 after acquiring an additional 113,565 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in CommScope by 37.9% in Q4. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider valued at $221,000 after acquiring an additional 5,500 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in CommScope by 5.9% in the third quarter. Goldman Sachs Group Inc. now owns 772,754 shares of the communications equipment supplier valued at $10,502,000 after acquiring an additional 43,235 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CommScope by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider valued at $23,981,000 after acquiring an additional 69,527 shares in the last quarter. Institutional investors and hedge funds hold 92.71% of the company’s shares.
CommScope Company Profile (Get a rating)
CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Site and Campus Networks (VCN) and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products and hardened closures to the broadband market of telecommunications operators and cable companies.
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