CommScope (NASDAQ:COMM) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

CommScope (NASDAQ:COMM) issued its earnings results on Thursday. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01), Briefing.com reports. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year.

CommScope Stock Performance

Shares of COMM stock traded up $0.07 on Friday, hitting $2.86. The stock had a trading volume of 5,282,709 shares, compared to its average volume of 3,997,753. The stock’s 50 day moving average is $1.62 and its 200-day moving average is $1.51. The firm has a market capitalization of $607.11 million, a price-to-earnings ratio of -0.32, a P/E/G ratio of 1.91 and a beta of 2.08. CommScope has a 52-week low of $0.86 and a 52-week high of $3.97.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COMM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. StockNews.com downgraded CommScope from a “hold” rating to a “sell” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, CommScope has a consensus rating of “Hold” and an average target price of $1.67.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.