CommScope Holding Company, Inc. (NASDAQ:COMM) Expected to Post Quarterly Sales of $2.14 Billion

Wall Street analysts expect CommScope Holding Company, Inc. (NASDAQ:COMM) to post sales of $2.14 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CommScope’s earnings. The highest sales estimate is $2.16 billion and the lowest is $2.12 billion. CommScope posted sales of $2.10 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The firm is expected to announce its next earnings report before the market opens on Thursday, August 5th.

On average, analysts expect that CommScope will report full-year sales of $8.62 billion for the current fiscal year, with estimates ranging from $8.51 billion to $8.73 billion. For the next financial year, analysts expect that the company will post sales of $8.78 billion, with estimates ranging from $8.60 billion to $9.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CommScope.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, May 6th. The communications equipment provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. CommScope had a negative net margin of 6.03% and a positive return on equity of 132.51%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of research firms recently issued reports on COMM. Rosenblatt Securities upgraded shares of CommScope from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of CommScope from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.00 to $21.00 in a research report on Tuesday, April 13th. Morgan Stanley boosted their target price on shares of CommScope from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call. The Goldman Sachs Group boosted their target price on shares of CommScope from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, May 7th. Finally, Evercore ISI upgraded shares of CommScope from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $19.00 to $24.00 in a research report on Friday, May 21st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.90.

NASDAQ:COMM opened at $20.75 on Thursday. CommScope has a 12 month low of $8.25 and a 12 month high of $22.18. The business’s fifty day moving average is $20.50. The company has a quick ratio of 1.16, a current ratio of 1.73 and a debt-to-equity ratio of 45.65. The firm has a market capitalization of $4.23 billion, a P/E ratio of -7.23, a P/E/G ratio of 0.48 and a beta of 1.83.

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of CommScope by 0.3% during the first quarter. JPMorgan Chase & Co. now owns 14,706,506 shares of the communications equipment provider’s stock worth $225,892,000 after purchasing an additional 49,798 shares in the last quarter. Lyrical Asset Management LP boosted its position in CommScope by 2.4% during the first quarter. Lyrical Asset Management LP now owns 9,445,522 shares of the communications equipment provider’s stock worth $145,083,000 after acquiring an additional 221,334 shares during the last quarter. Nuveen Asset Management LLC boosted its position in CommScope by 21.6% during the first quarter. Nuveen Asset Management LLC now owns 8,539,392 shares of the communications equipment provider’s stock worth $131,165,000 after acquiring an additional 1,519,018 shares during the last quarter. Cannell Peter B & Co. Inc. boosted its position in CommScope by 14.0% during the first quarter. Cannell Peter B & Co. Inc. now owns 3,090,500 shares of the communications equipment provider’s stock worth $47,470,000 after acquiring an additional 379,750 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC boosted its position in CommScope by 66.1% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 2,564,992 shares of the communications equipment provider’s stock worth $39,398,000 after acquiring an additional 1,021,185 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Home Networks (Home), Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN).The Broadband segment provides a converged cable access platform, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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