CommScope Holding’s (COMM) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in a research note published on Thursday morning. They currently have a $40.00 target price on the communications equipment provider’s stock.
Several other research firms have also commented on COMM. Morgan Stanley raised CommScope Holding from an equal weight rating to an overweight rating and set a $38.00 price objective on the stock in a research report on Thursday, August 17th. Zacks Investment Research raised CommScope Holding from a sell rating to a hold rating in a research report on Monday, July 10th. Cross Research lowered CommScope Holding from a buy rating to a hold rating in a research report on Friday, August 4th. Northland Securities reissued a hold rating and issued a $30.00 price objective on shares of CommScope Holding in a research report on Thursday, August 3rd. Finally, BidaskClub lowered CommScope Holding from a buy rating to a hold rating in a research report on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $41.20.
Shares of CommScope Holding (COMM) opened at 32.19 on Thursday. The stock has a market cap of $6.21 billion, a P/E ratio of 26.87 and a beta of 1.18. The company has a 50 day moving average price of $33.08 and a 200 day moving average price of $36.22. CommScope Holding has a 12-month low of $29.91 and a 12-month high of $42.75.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business posted $0.74 EPS. CommScope Holding’s revenue was down 10.2% compared to the same quarter last year. Analysts anticipate that CommScope Holding will post $2.22 earnings per share for the current fiscal year.
CommScope Holding announced that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other CommScope Holding news, Director Timothy T. Yates bought 5,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claudius E. Iv Watts bought 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $32.87 per share, for a total transaction of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in COMM. Nomura Asset Management Co. Ltd. increased its position in shares of CommScope Holding by 6.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 160 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in shares of CommScope Holding during the second quarter worth about $114,000. Krilogy Financial LLC increased its position in shares of CommScope Holding by 5.7% during the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 170 shares during the last quarter. Financial Architects Inc increased its position in shares of CommScope Holding by 9.8% during the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after acquiring an additional 322 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of CommScope Holding by 76.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after acquiring an additional 2,064 shares during the last quarter.
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.
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