Longbow Research cut shares of CommScope Holding Company, Inc. (NASDAQ:COMM) from a buy rating to a neutral rating in a report released on Friday, August 4th, Marketbeat.com reports.
Other analysts have also issued research reports about the stock. Jefferies Group LLC reiterated a buy rating and set a $43.00 price objective on shares of CommScope Holding in a research note on Friday, July 14th. BidaskClub raised shares of CommScope Holding from a hold rating to a buy rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of CommScope Holding from a sell rating to a buy rating and set a $47.00 price target for the company in a research report on Tuesday, May 2nd. Deutsche Bank AG raised their price target on shares of CommScope Holding from $42.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, April 19th. Finally, Nomura started coverage on shares of CommScope Holding in a report on Thursday, May 25th. They issued a buy rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. CommScope Holding has a consensus rating of Buy and an average target price of $41.45.
CommScope Holding (NASDAQ COMM) opened at 32.84 on Friday. The company has a 50 day moving average of $35.28 and a 200-day moving average of $38.00. The firm has a market cap of $6.34 billion, a PE ratio of 27.41 and a beta of 1.17. CommScope Holding has a one year low of $28.28 and a one year high of $42.75.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities research analysts predict that CommScope Holding will post $2.22 earnings per share for the current year.
CommScope Holding announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase 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 related news, Director Claudius E. Iv Watts acquired 15,000 shares of the business’s stock in a transaction that occurred on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy T. Yates acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $32.62 per share, for a total transaction of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of CommScope Holding by 47.2% in the second quarter. Public Employees Retirement System of Ohio now owns 70,967 shares of the communications equipment provider’s stock valued at $2,699,000 after buying an additional 22,740 shares during the period. Krilogy Financial LLC boosted its stake in shares of CommScope Holding by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 170 shares during the period. Sterling Capital Management LLC boosted its stake in shares of CommScope Holding by 44.1% in the second quarter. Sterling Capital Management LLC now owns 42,164 shares of the communications equipment provider’s stock valued at $1,603,000 after buying an additional 12,894 shares during the period. Scotia Capital Inc. boosted its stake in shares of CommScope Holding by 1.8% in the second quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock valued at $1,346,000 after buying an additional 609 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of CommScope Holding by 37.2% in the second quarter. California State Teachers Retirement System now owns 348,950 shares of the communications equipment provider’s stock valued at $13,270,000 after buying an additional 94,603 shares during the period. Hedge funds and other institutional investors own 96.77% of the company’s stock.
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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