Brokerages Anticipate Commscope Holding Company Inc (COMM) Will Post Quarterly Sales of $1.11 Billion

Wall Street analysts expect Commscope Holding Company Inc (NASDAQ:COMM) to report $1.11 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Commscope’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.11 billion. Commscope posted sales of $1.18 billion in the same quarter last year, which would indicate a negative year over year growth rate of 5.9%. The business is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Commscope will report full year sales of $1.11 billion for the current fiscal year, with estimates ranging from $4.53 billion to $4.56 billion. For the next financial year, analysts anticipate that the business will report sales of $4.74 billion per share, with estimates ranging from $4.64 billion to $4.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Commscope.

Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Commscope had a net margin of 4.21% and a return on equity of 29.11%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share.

COMM has been the subject of a number of analyst reports. Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Commscope in a research note on Wednesday, September 20th. Zacks Investment Research raised shares of Commscope from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Northland Securities set a $28.00 price objective on shares of Commscope and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Citigroup increased their price objective on shares of Commscope from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, ValuEngine cut shares of Commscope from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Commscope currently has an average rating of “Buy” and a consensus price target of $40.30.

In related news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $36.45, for a total transaction of $1,822,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank M. Drendel sold 15,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $570,300.00. The disclosure for this sale can be found here. Insiders have sold 130,284 shares of company stock valued at $4,874,245 over the last ninety days. 3.33% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Krilogy Financial LLC grew its stake in Commscope by 5.7% during the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 170 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Commscope by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock worth $1,346,000 after buying an additional 609 shares in the last quarter. AXA grew its stake in shares of Commscope by 1.6% in the 2nd quarter. AXA now owns 67,158 shares of the communications equipment provider’s stock worth $2,554,000 after buying an additional 1,058 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Commscope by 8.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 20,072 shares of the communications equipment provider’s stock worth $667,000 after buying an additional 1,568 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Commscope by 29.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,705 shares of the communications equipment provider’s stock worth $294,000 after buying an additional 1,760 shares in the last quarter.

Shares of Commscope (NASDAQ:COMM) traded down $0.51 during midday trading on Wednesday, hitting $38.21. 1,054,187 shares of the stock were exchanged, compared to its average volume of 1,374,257. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $7,290.00, a PE ratio of 38.60, a PEG ratio of 2.49 and a beta of 1.20. Commscope has a 1 year low of $30.95 and a 1 year high of $42.75.

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Commscope Company Profile

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

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