Commscope (NASDAQ:COMM) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.37 to $0.47 for the period, compared to the Thomson Reuters consensus estimate of $0.63. The company issued revenue guidance of $2.30 billion to $2.50 billion, compared to the consensus revenue estimate of $2.70 billion.Commscope also updated its Q3 2019 guidance to $0.37-0.47 EPS.
A number of analysts have recently weighed in on the company. Rosenblatt Securities raised Commscope from a neutral rating to a buy rating and dropped their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, June 12th. BidaskClub lowered Commscope from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. Raymond James lowered Commscope from a strong-buy rating to an outperform rating and dropped their price objective for the company from $25.00 to $21.00 in a research note on Friday, June 14th. Zacks Investment Research lowered Commscope from a strong-buy rating to a sell rating and set a $17.00 price objective for the company. in a research note on Tuesday, June 4th. Finally, Goldman Sachs Group raised Commscope from a neutral rating to a buy rating and dropped their price objective for the company from $20.00 to $19.00 in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $22.62.
NASDAQ:COMM opened at $12.90 on Thursday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.30 and a beta of 1.43. Commscope has a fifty-two week low of $12.56 and a fifty-two week high of $31.98. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.42 and a current ratio of 2.01. The company’s 50 day moving average is $15.08.
In other Commscope news, COO Bruce William Mcclelland purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average price of $18.28 per share, with a total value of $73,120.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank M. Drendel sold 80,800 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total value of $1,482,680.00. The disclosure for this sale can be found here. Company insiders own 3.25% of the company’s stock.
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.
See Also: Book Value Per Share – BVPS
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