Commscope (NASDAQ:COMM) Posts Earnings Results, Beats Estimates By $0.11 EPS
Commscope (NASDAQ:COMM) posted its earnings results on Thursday. The communications equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11, Briefing.com reports. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Commscope had a negative net margin of 5.03% and a positive return on equity of 25.08%. The business’s revenue for the quarter was up 106.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. Commscope updated its Q4 guidance to $0.27-0.37 EPS.
Shares of Commscope stock traded up $0.76 on Friday, hitting $15.70. The stock had a trading volume of 6,605,800 shares, compared to its average volume of 3,294,922. Commscope has a twelve month low of $9.52 and a twelve month high of $27.00. The stock has a 50 day moving average of $11.73 and a 200 day moving average of $14.73. The company has a debt-to-equity ratio of 7.23, a quick ratio of 1.27 and a current ratio of 1.88. The firm has a market capitalization of $2.36 billion, a P/E ratio of 7.44, a PEG ratio of 0.41 and a beta of 1.52.
COMM has been the subject of a number of research reports. TheStreet cut shares of Commscope from a “c” rating to a “d” rating in a report on Friday, August 16th. Rosenblatt Securities downgraded Commscope from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $13.00 in a research note on Tuesday, October 29th. Nomura reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Commscope in a research note on Thursday. Deutsche Bank set a $28.00 price objective on Commscope and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America lowered their price objective on Commscope from $26.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Commscope has an average rating of “Hold” and a consensus target price of $18.35.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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