CommScope Holding Company, Inc. (NASDAQ:COMM) had its price target lifted by Citigroup Inc. from $39.00 to $40.00 in a research note published on Thursday, November 2nd. The firm currently has a buy rating on the communications equipment provider’s stock.
Several other research analysts have also commented on COMM. Zacks Investment Research upgraded CommScope Holding from a sell rating to a hold rating in a research report on Monday, July 10th. Jefferies Group LLC restated a buy rating and set a $43.00 price target on shares of CommScope Holding in a research report on Friday, July 14th. BidaskClub lowered CommScope Holding from a buy rating to a hold rating in a research report on Wednesday, July 19th. Northland Securities restated a hold rating and set a $30.00 price target on shares of CommScope Holding in a research report on Thursday, August 3rd. Finally, Barclays PLC lowered CommScope Holding from an overweight rating to an equal weight rating and lowered their price target for the stock from $41.00 to $36.00 in a research report on Friday, August 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $40.30.
CommScope Holding (NASDAQ:COMM) opened at $35.09 on Thursday. The firm has a market capitalization of $6,620.00, a P/E ratio of 15.70, a P/E/G ratio of 2.65 and a beta of 1.16. CommScope Holding has a 52-week low of $30.95 and a 52-week high of $42.75. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.10.
CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. CommScope Holding had a return on equity of 29.11% and a net margin of 4.21%. The firm’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 business posted $0.81 earnings per share. analysts anticipate that CommScope Holding will post 2.01 EPS for the current fiscal year.
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CommScope Holding announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in COMM. Capital Research Global Investors raised its stake in shares of CommScope Holding by 478.2% in the second quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after acquiring an additional 11,994,126 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in CommScope Holding in the second quarter valued at $128,505,000. JPMorgan Chase & Co. raised its stake in CommScope Holding by 54.5% in the second quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after buying an additional 2,930,632 shares in the last quarter. BlackRock Inc. raised its stake in CommScope Holding by 19.0% in the second quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after buying an additional 2,438,894 shares in the last quarter. Finally, Harris Associates L P raised its stake in CommScope Holding by 58.6% in the second quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock valued at $243,039,000 after buying an additional 2,361,663 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.
About CommScope Holding
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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