$2.20 Billion in Sales Expected for CommScope Holding Company, Inc. (NASDAQ:COMM) This Quarter

Brokerages expect CommScope Holding Company, Inc. (NASDAQ:COMM) to report $2.20 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for CommScope’s earnings. The highest sales estimate is $2.23 billion and the lowest is $2.15 billion. CommScope posted sales of $2.17 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The firm is expected to announce its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that CommScope will report full year sales of $8.59 billion for the current year, with estimates ranging from $8.53 billion to $8.66 billion. For the next financial year, analysts anticipate that the firm will report sales of $8.78 billion, with estimates ranging from $8.71 billion to $8.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for CommScope.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, August 5th. The communications equipment provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.17 billion. CommScope had a negative net margin of 4.02% and a positive return on equity of 192.26%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS.

A number of equities analysts have recently issued reports on the stock. Credit Suisse Group cut their price objective on shares of CommScope from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Bank of America cut shares of CommScope from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $15.00 in a research report on Thursday. Finally, Morgan Stanley increased their price objective on shares of CommScope from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.36.

Shares of COMM stock traded down $0.11 on Friday, reaching $13.75. 2,652,494 shares of the company were exchanged, compared to its average volume of 2,602,935. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -6.94, a PEG ratio of 0.42 and a beta of 1.80. The company has a 50-day moving average of $16.52 and a 200-day moving average of $17.78. The company has a debt-to-equity ratio of 137.66, a current ratio of 1.67 and a quick ratio of 1.12. CommScope has a one year low of $8.25 and a one year high of $22.18.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its holdings in shares of CommScope by 26.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 465,844 shares of the communications equipment provider’s stock worth $9,927,000 after acquiring an additional 97,868 shares during the last quarter. Marshall Wace LLP increased its stake in CommScope by 222.8% in the 2nd quarter. Marshall Wace LLP now owns 36,802 shares of the communications equipment provider’s stock valued at $784,000 after buying an additional 25,400 shares during the last quarter. Morgan Stanley increased its stake in CommScope by 42.7% in the 2nd quarter. Morgan Stanley now owns 770,166 shares of the communications equipment provider’s stock valued at $16,412,000 after buying an additional 230,330 shares during the last quarter. Goldentree Asset Management LP increased its stake in CommScope by 61.4% in the 2nd quarter. Goldentree Asset Management LP now owns 4,323,557 shares of the communications equipment provider’s stock valued at $92,135,000 after buying an additional 1,644,898 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in CommScope by 25.5% in the 2nd quarter. Wells Fargo & Company MN now owns 1,062,042 shares of the communications equipment provider’s stock valued at $22,632,000 after buying an additional 215,580 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About CommScope

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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