CommScope Holding Company, Inc. (NASDAQ: COMM) – Jefferies Financial Group dropped its second quarter 2022 profit estimates for shares of CommScope in a report released on Tuesday, December 7. Jefferies Financial Group analyst G. Notter now expects the communications equipment supplier to post earnings of $ 0.34 per share for the quarter, down from its previous estimate of $ 0.45. Jefferies Financial Group has a “Buy” rating and a target price of $ 15.00 on the stock. Jefferies Financial Group also released estimates for CommScope third quarter 2022 earnings at $ 0.47 per share and fourth quarter 2022 earnings at $ 0.50 per share.
Several other brokerages have also recently commented on COMM. Zacks Investment Research downgraded CommScope’s stock rating from a “custody” rating to a “strong sell” rating and set a target price of $ 8.50 for the stock. in a report on Monday, November 15. TheStreet downgraded CommScope’s shares from a “c-” rating to a “d +” rating in a research report on Monday, November 29. Credit Suisse Group lowered its target price on CommScope shares from $ 12.00 to $ 9.20 and set a “neutral” rating on the stock in a research report published on Friday, November 5. Bank of America Downgraded CommScope Shares from a ‘Buy’ Rating to a ‘Neutral’ Rating and Lowered Its Price Target for the Company from $ 22.00 to $ 15.00 in Published Research Report Thursday September 23. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on CommScope shares from $ 18.00 to $ 14.00 and set a “buy” rating on the stock in a research report released on Tuesday 9. November. Three equity research analysts gave the stock a sell rating, two assigned a conservation rating, and seven gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average “Hold” rating and an average target price of $ 17.06.
CommScope stock opened at $ 11.32 on Wednesday. The company has a market cap of $ 2.31 billion, a P / E ratio of -5.66, a P / E / G ratio of 0.61, and a beta of 1.67. The company’s fifty-day simple moving average is $ 11.11 and its 200-day simple moving average is $ 15.85. The company has a current ratio of 1.65, a quick ratio of 1.05, and a debt to equity ratio of 137.66. CommScope has a one year minimum of $ 9.25 and a one year maximum of $ 22.18. CommScope (NASDAQ: COMM) last released its quarterly earnings data on Thursday, November 4. The communications equipment supplier reported $ 0.29 of EPS for the quarter, missing analyst consensus estimates of $ 0.34 per ($ 0.05). The company posted revenue of $ 2.11 billion in the quarter, compared to $ 2.21 billion according to analysts’ estimates. CommScope recorded a positive return on equity of 269.72% and a negative net margin of 4.14%. The company’s revenue for the quarter was down 2.9% year-on-year. During the same period of the previous year, the company posted $ 0.37 in EPS.
A number of large investors have recently bought and sold stocks. Royal Bank of Canada strengthened its position in CommScope by 0.9% during the 1st quarter. Royal Bank of Canada now owns 85,760 shares of the communications equipment supplier valued at $ 1,317,000 after purchasing an additional 726 shares during the period. Arizona State Retirement System increased its stake in CommScope by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 55,589 shares of the communications equipment supplier valued at $ 755,000 after purchasing an additional 997 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in CommScope by 46.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,247 shares of the communications equipment supplier valued at $ 69,000 after purchasing an additional 1,024 shares in the last quarter. Pitcairn Co. increased its stake in CommScope by 4.9% during the 3rd quarter. Pitcairn Co. now owns 24,215 shares of the communications equipment supplier valued at $ 329,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Private Capital Group LLC increased its stake in CommScope by 134.0% during the 3rd quarter. Private Capital Group LLC now owns 2,195 shares of the communications equipment supplier valued at $ 30,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors and hedge funds hold 90.72% of the shares of the company.
In related news, Director Claudius E. Iv Watts bought 10,000 shares of CommScope in a trade dated Thursday, November 18. The shares were purchased at an average cost of $ 9.88 per share, for a total transaction of $ 98,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In addition, Director Claudius E. Iv Watts purchased 5,000 shares of CommScope in a trade dated Monday, November 22. The stock was purchased at an average price of $ 9.77 per share, for a total transaction of $ 48,850.00. Disclosure of this purchase can be found here. Insiders acquired 105,384 shares of the company valued at $ 1,032,444 during the last quarter. Company insiders own 2.70% of the company’s shares.
CommScope Company Profile
CommScope Holding Co, Inc is engaged in providing infrastructure solutions for communication networks. It operates through the following segments: broadband; Home; Outdoor wireless networks (OWN); and site and campus networks (VCNs). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, North Carolina.
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