$2.20 Billion in Sales Expected for CommScope Holding Company, Inc. (NASDAQ:COMM) This Quarter

Equities research analysts forecast that CommScope Holding Company, Inc. (NASDAQ:COMM) will announce $2.20 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for CommScope’s earnings. The lowest sales estimate is $2.15 billion and the highest is $2.23 billion. CommScope reported sales of $2.17 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The business is expected to report its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that CommScope will report full-year sales of $8.59 billion for the current financial year, with estimates ranging from $8.53 billion to $8.66 billion. For the next financial year, analysts forecast that the company will report sales of $8.78 billion, with estimates ranging from $8.71 billion to $8.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for CommScope.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 5th. The communications equipment provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). CommScope had a negative net margin of 4.02% and a positive return on equity of 192.26%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis.

A number of equities research analysts have recently weighed in on COMM shares. Morgan Stanley lifted their price target on shares of CommScope from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call. Bank of America downgraded shares of CommScope from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $15.00 in a research report on Thursday. Finally, Credit Suisse Group lowered their price objective on shares of CommScope from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, August 6th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, CommScope currently has a consensus rating of “Hold” and an average price target of $19.36.

Large investors have recently made changes to their positions in the company. BDO Wealth Advisors LLC acquired a new position in shares of CommScope during the first quarter worth $31,000. Parkside Financial Bank & Trust increased its holdings in shares of CommScope by 86.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,223 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 1,030 shares in the last quarter. US Bancorp DE grew its stake in shares of CommScope by 53.2% in the second quarter. US Bancorp DE now owns 3,759 shares of the communications equipment provider’s stock worth $80,000 after purchasing an additional 1,306 shares during the last quarter. Sycomore Asset Management bought a new stake in shares of CommScope in the first quarter worth $59,000. Finally, Roble Belko & Company Inc bought a new stake in shares of CommScope in the first quarter worth $61,000. Institutional investors own 93.27% of the company’s stock.

Shares of NASDAQ COMM traded down $0.11 during midday trading on Friday, reaching $13.75. The company’s stock had a trading volume of 2,652,494 shares, compared to its average volume of 2,602,935. The company has a debt-to-equity ratio of 137.66, a quick ratio of 1.12 and a current ratio of 1.67. CommScope has a fifty-two week low of $8.25 and a fifty-two week high of $22.18. The business’s 50 day moving average price is $16.52 and its two-hundred day moving average price is $17.78. The company has a market cap of $2.81 billion, a P/E ratio of -6.94, a P/E/G ratio of 0.42 and a beta of 1.80.

About CommScope

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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