Zacks: Brokerages Expect CommScope Holding Company, Inc. (COMM) Will Post Quarterly Sales of $1.13 Billion
Analysts expect CommScope Holding Company, Inc. (NASDAQ:COMM) to announce sales of $1.13 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for CommScope Holding’s earnings. The lowest sales estimate is $1.13 billion and the highest is $1.14 billion. CommScope Holding reported sales of $1.29 billion during the same quarter last year, which indicates a negative year over year growth rate of 12.4%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that CommScope Holding will report full-year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.52 billion to $4.58 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.92 billion per share, with estimates ranging from $4.60 billion to $5.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow CommScope Holding.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share.
A number of analysts have issued reports on the company. TheStreet raised CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Northland Securities reissued a “hold” rating and issued a $28.00 target price on shares of CommScope Holding in a research report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 target price (down from $43.00) on shares of CommScope Holding in a research report on Wednesday, August 9th. Cross Research lowered CommScope Holding from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Longbow Research lowered CommScope Holding from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $41.45.
COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Expect CommScope Holding Company, Inc. (COMM) Will Post Quarterly Sales of $1.13 Billion” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.watchlistnews.com/zacks-brokerages-expect-commscope-holding-company-inc-comm-will-post-quarterly-sales-of-1-13-billion/1491150.html.
CommScope Holding (COMM) traded up 1.04% during mid-day trading on Tuesday, reaching $32.94. The company had a trading volume of 1,436,296 shares. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 27.50 and a beta of 1.17. The stock has a 50-day moving average of $35.74 and a 200 day moving average of $38.10. CommScope Holding has a 12-month low of $28.28 and a 12-month high of $42.75.
CommScope Holding announced that its board has initiated a stock buyback plan on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, Director Frank M. Drendel sold 15,000 shares of CommScope Holding stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.94, for a total transaction of $584,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy T. Yates acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in CommScope Holding by 13,901.6% in the first quarter. BlackRock Inc. now owns 12,836,653 shares of the communications equipment provider’s stock valued at $535,417,000 after buying an additional 12,744,973 shares in the last quarter. Capital Research Global Investors raised its stake in CommScope Holding by 478.2% in the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after buying an additional 11,994,126 shares in the last quarter. Wellington Management Group LLP raised its stake in CommScope Holding by 70.1% in the first quarter. Wellington Management Group LLP now owns 9,147,906 shares of the communications equipment provider’s stock valued at $381,560,000 after buying an additional 3,770,507 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in CommScope Holding during the second quarter valued at about $128,505,000. Finally, JPMorgan Chase & Co. raised its stake in CommScope Holding by 54.5% in the second quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after buying an additional 2,930,632 shares in the last quarter. 96.77% of the stock is owned by institutional investors.
About CommScope Holding
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CommScope Holding Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommScope Holding Company Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.