Citigroup Inc. Raises CommScope Holding Company, Inc. (COMM) Price Target to $40.00
CommScope Holding Company, Inc. (NASDAQ:COMM) had its price objective increased by Citigroup Inc. from $39.00 to $40.00 in a research report released on Thursday. They currently have a buy rating on the communications equipment provider’s stock.
Other equities research analysts have also recently issued reports about the company. Barclays PLC cut CommScope Holding from an overweight rating to an equal weight rating and decreased their price target for the company from $41.00 to $36.00 in a research report on Friday, August 4th. TheStreet raised CommScope Holding from a c+ rating to a b rating in a report on Tuesday, August 8th. Morgan Stanley raised CommScope Holding from an equal weight rating to an overweight rating and set a $38.00 price objective for the company in a report on Thursday, August 17th. Northland Securities reissued a hold rating and set a $28.00 price objective on shares of CommScope Holding in a report on Thursday, August 10th. Finally, Jefferies Group LLC reissued a buy rating and set a $40.00 price objective on shares of CommScope Holding in a report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. CommScope Holding currently has an average rating of Buy and a consensus price target of $40.27.
Shares of CommScope Holding (NASDAQ:COMM) traded up $0.02 during trading on Thursday, reaching $33.51. The company had a trading volume of 1,732,749 shares, compared to its average volume of 1,518,532. The firm has a market capitalization of $6,392.43, a P/E ratio of 15.51, a PEG ratio of 2.61 and a beta of 1.16. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.06 and a current ratio of 2.78.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CommScope Holding had a return on equity of 29.11% and a net margin of 4.21%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. sell-side analysts expect that CommScope Holding will post 2.07 EPS for the current year.
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CommScope Holding declared that its Board of Directors has approved a share repurchase 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. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other CommScope Holding news, Director Timothy T. Yates bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $32.62 per share, for a total transaction of $163,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Claudius E. Iv Watts bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in CommScope Holding by 7.2% in the third quarter. BNP Paribas Arbitrage SA now owns 223,335 shares of the communications equipment provider’s stock worth $7,417,000 after purchasing an additional 15,051 shares in the last quarter. Swiss National Bank raised its holdings in CommScope Holding by 0.5% in the third quarter. Swiss National Bank now owns 713,400 shares of the communications equipment provider’s stock worth $23,692,000 after purchasing an additional 3,400 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in CommScope Holding in the third quarter worth $280,000. State of Wisconsin Investment Board raised its holdings in CommScope Holding by 7.4% in the third quarter. State of Wisconsin Investment Board now owns 158,436 shares of the communications equipment provider’s stock worth $5,262,000 after purchasing an additional 10,966 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in CommScope Holding by 5.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 180,106 shares of the communications equipment provider’s stock worth $5,981,000 after purchasing an additional 8,820 shares in the last quarter.
CommScope Holding Company Profile
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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