According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “
A number of other analysts have also recently issued reports on the company. Deutsche Bank AG cut their price objective on CommScope Holding from $36.00 to $35.00 and set a buy rating for the company in a research report on Friday, July 29th. BTIG Research started coverage on CommScope Holding in a research report on Friday, June 17th. They issued a buy rating and a $41.00 price objective for the company. Credit Suisse Group AG reaffirmed a buy rating on shares of CommScope Holding in a research report on Friday, July 29th. TheStreet raised CommScope Holding from a hold rating to a buy rating in a research report on Friday, July 29th. Finally, Jefferies Group reaffirmed a buy rating and issued a $38.00 price objective on shares of CommScope Holding in a research report on Thursday, September 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $34.07.
CommScope Holding (NASDAQ:COMM) opened at 30.46 on Wednesday. The stock’s 50 day moving average price is $29.69 and its 200-day moving average price is $29.65. CommScope Holding has a one year low of $19.37 and a one year high of $33.54. The firm’s market capitalization is $5.87 billion.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The business’s revenue was up 50.7% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. On average, equities research analysts expect that CommScope Holding will post $2.50 EPS for the current fiscal year.
In other news, Director Frank M. Drendel sold 7,336 shares of CommScope Holding stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $31.24, for a total value of $229,176.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Peter U. Karlsson sold 7,796 shares of CommScope Holding stock in a transaction on Monday, August 1st. The shares were sold at an average price of $30.06, for a total value of $234,347.76. The disclosure for this sale can be found here. Company insiders own 4.09% of the company’s stock.
Several institutional investors have recently modified their holdings of COMM. Macquarie Group Ltd. raised its position in shares of CommScope Holding by 14.1% in the second quarter. Macquarie Group Ltd. now owns 2,199,175 shares of the company’s stock valued at $68,240,000 after buying an additional 272,126 shares during the last quarter. Williams Jones & Associates LLC acquired a new position in shares of CommScope Holding during the second quarter valued at about $2,747,000. Public Employees Retirement System of Ohio raised its position in shares of CommScope Holding by 55.8% in the second quarter. Public Employees Retirement System of Ohio now owns 41,858 shares of the company’s stock valued at $1,299,000 after buying an additional 14,989 shares during the last quarter. Calvert Investment Management Inc. acquired a new position in shares of CommScope Holding during the second quarter valued at about $217,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of CommScope Holding by 25.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 476,223 shares of the company’s stock valued at $14,778,000 after buying an additional 97,934 shares during the last quarter.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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