Zacks: Brokerages Anticipate CommScope Holding Company, Inc. (COMM) Will Post Earnings of $0.58 Per Share
Wall Street brokerages forecast that CommScope Holding Company, Inc. (NASDAQ:COMM) will announce earnings of $0.58 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CommScope Holding’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.82. CommScope Holding posted earnings per share of $0.81 in the same quarter last year, which indicates a negative year-over-year growth rate of 28.4%. The business is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that CommScope Holding will report full year earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.17 to $2.77. For the next financial year, analysts expect that the company will report earnings of $2.74 per share, with EPS estimates ranging from $2.50 to $3.11. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow CommScope Holding.
CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was down 10.2% on a year-over-year basis.
Several equities research analysts have recently issued reports on COMM shares. Zacks Investment Research raised shares of CommScope Holding from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a research report on Friday, July 14th. BidaskClub cut shares of CommScope Holding from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. TheStreet cut shares of CommScope Holding from a “b” rating to a “c+” rating in a research report on Monday, May 22nd. Finally, Nomura started coverage on shares of CommScope Holding in a research report on Thursday, May 25th. They set a “buy” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. CommScope Holding presently has a consensus rating of “Buy” and a consensus target price of $41.73.
Shares of CommScope Holding (COMM) traded down 0.27% during mid-day trading on Thursday, hitting $32.97. The stock had a trading volume of 1,052,140 shares. The stock’s 50-day moving average is $33.95 and its 200 day moving average is $37.58. CommScope Holding has a 12 month low of $29.03 and a 12 month high of $42.75. The firm has a market cap of $6.36 billion, a PE ratio of 27.52 and a beta of 1.20.
CommScope Holding announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In other CommScope Holding news, Director Claudius E. Iv Watts bought 15,000 shares of CommScope Holding stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $32.87 per share, with a total value of $493,050.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy T. Yates bought 5,000 shares of CommScope Holding stock in a transaction dated Tuesday, August 8th. The stock was 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 owned by insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of CommScope Holding by 1.2% in the second quarter. Vanguard Group Inc. now owns 15,843,334 shares of the communications equipment provider’s stock valued at $602,522,000 after buying an additional 183,790 shares during the last quarter. BlackRock Inc. raised its holdings in shares of CommScope Holding by 19.0% in the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after buying an additional 2,438,894 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of 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 during the last quarter. FMR LLC raised its holdings in shares of CommScope Holding by 6.6% in the second quarter. FMR LLC now owns 11,279,906 shares of the communications equipment provider’s stock valued at $428,975,000 after buying an additional 702,210 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 during the last quarter.
TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Anticipate CommScope Holding Company, Inc. (COMM) Will Post Earnings of $0.58 Per Share” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/09/03/zacks-brokerages-anticipate-commscope-holding-company-inc-comm-will-post-earnings-of-0-58-per-share.html.
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 & Stock 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 stocks with our FREE daily email newsletter.