Zacks: Brokerages Expect Commscope Holding Company Inc (NASDAQ:COMM) Will Post Quarterly Sales of $2.07 Billion

Wall Street analysts expect Commscope Holding Company Inc (NASDAQ:COMM) to report $2.07 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Commscope’s earnings, with the highest sales estimate coming in at $2.14 billion and the lowest estimate coming in at $1.95 billion. Commscope reported sales of $2.57 billion in the same quarter last year, which indicates a negative year over year growth rate of 19.5%. The business is scheduled to report its next quarterly earnings results on Thursday, August 13th.

On average, analysts expect that Commscope will report full-year sales of $8.55 billion for the current fiscal year, with estimates ranging from $8.34 billion to $8.71 billion. For the next fiscal year, analysts forecast that the business will post sales of $8.78 billion, with estimates ranging from $8.55 billion to $8.89 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Commscope.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, May 7th. The communications equipment provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. Commscope had a negative net margin of 11.72% and a positive return on equity of 32.68%. The firm’s revenue was up 84.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS.

Several analysts have issued reports on COMM shares. Northland Securities initiated coverage on Commscope in a research note on Wednesday. They set a “buy” rating and a $15.00 price objective on the stock. Credit Suisse Group reissued a “buy” rating and set a $17.00 price target on shares of Commscope in a research report on Wednesday, May 20th. ValuEngine downgraded shares of Commscope from a “hold” rating to a “sell” rating in a report on Thursday, May 14th. Nomura increased their target price on shares of Commscope from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Raymond James decreased their target price on Commscope from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Commscope currently has an average rating of “Hold” and a consensus target price of $13.61.

NASDAQ:COMM traded down $0.19 during mid-day trading on Monday, reaching $8.32. The stock had a trading volume of 5,899,576 shares, compared to its average volume of 4,771,697. The company has a debt-to-equity ratio of 16.91, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.56. Commscope has a 1-year low of $5.50 and a 1-year high of $16.32. The stock’s 50 day simple moving average is $9.90 and its two-hundred day simple moving average is $11.26.

A number of institutional investors have recently made changes to their positions in COMM. Wellington Management Group LLP grew its stake in shares of Commscope by 35.5% in the first quarter. Wellington Management Group LLP now owns 16,516,496 shares of the communications equipment provider’s stock worth $150,465,000 after purchasing an additional 4,327,365 shares in the last quarter. Shelter Haven Capital Management L.P. acquired a new stake in Commscope in the first quarter worth about $34,578,000. JPMorgan Chase & Co. grew its position in Commscope by 35.9% in the 1st quarter. JPMorgan Chase & Co. now owns 13,486,662 shares of the communications equipment provider’s stock valued at $122,863,000 after buying an additional 3,559,836 shares in the last quarter. FMR LLC increased its stake in Commscope by 18.2% during the 4th quarter. FMR LLC now owns 18,806,043 shares of the communications equipment provider’s stock valued at $266,858,000 after buying an additional 2,896,557 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Commscope by 33.8% during the 1st quarter. First Trust Advisors LP now owns 9,385,281 shares of the communications equipment provider’s stock worth $85,500,000 after buying an additional 2,373,431 shares in the last quarter.

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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