Analysts expect that CommScope Holding Company, Inc. (NASDAQ:COMM) will announce earnings of $0.54 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for CommScope Holding’s earnings. The lowest EPS estimate is $0.52 and the highest is $0.56. CommScope Holding reported earnings per share of $0.81 during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The company is expected to report its next quarterly earnings results before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that CommScope Holding will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.18 to $2.25. For the next fiscal year, analysts anticipate that the company will post earnings of $2.69 per share, with EPS estimates ranging from $2.54 to $2.93. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CommScope Holding.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS 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 company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue was down 10.2% compared to the same quarter last year.
A number of equities research analysts have commented on the company. TheStreet upgraded CommScope Holding from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective (down from $43.00) on shares of CommScope Holding in a research report on Wednesday, August 9th. Northland Securities restated a “hold” rating and set a $28.00 price objective on shares of CommScope Holding in a research report on Thursday, August 10th. Longbow Research lowered CommScope Holding from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Finally, Barclays PLC lowered CommScope Holding from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $40.73.
In related news, 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 acquired at an average cost of $32.62 per share, with a total value of $163,100.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Claudius E. Iv Watts acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was bought 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 owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after acquiring an additional 160 shares in the last quarter. Krilogy Financial LLC raised its stake in shares of CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 170 shares in the last quarter. Financial Architects Inc raised its stake in shares of CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after acquiring an additional 322 shares in the last quarter. Parametrica Management Ltd raised its stake in shares of CommScope Holding by 3.8% in the 2nd quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock valued at $411,000 after acquiring an additional 396 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of CommScope Holding by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock valued at $1,346,000 after acquiring an additional 609 shares in the last quarter.
CommScope Holding (NASDAQ COMM) opened at 31.73 on Friday. The stock’s 50 day moving average is $32.90 and its 200-day moving average is $35.73. The firm has a market cap of $6.13 billion, a P/E ratio of 26.49 and a beta of 1.18. CommScope Holding has a 1-year low of $29.91 and a 1-year high of $42.75.
CommScope Holding announced that its board has authorized a share buyback program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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