CommScope Holding Company, Inc. (NASDAQ:COMM) had its target price increased by Citigroup Inc. from $39.00 to $40.00 in a research note issued to investors on Thursday, November 2nd. They currently have a buy rating on the communications equipment provider’s stock.
A number of other equities research analysts have also recently commented on the stock. Morgan Stanley upgraded shares of CommScope Holding from an equal weight rating to an overweight rating and set a $38.00 target price for the company in a research report on Thursday, August 17th. Zacks Investment Research raised CommScope Holding from a sell rating to a hold rating in a research report on Monday, July 10th. Cross Research lowered CommScope Holding from a buy rating to a hold rating in a research report on Friday, August 4th. Northland Securities reaffirmed a hold rating and issued a $30.00 target price on shares of CommScope Holding in a research report on Thursday, August 3rd. Finally, BidaskClub lowered CommScope Holding from a buy rating to a hold rating in a report on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $40.30.
CommScope Holding (NASDAQ COMM) traded up $0.15 during midday trading on Thursday, hitting $33.94. 1,279,000 shares of the stock were exchanged, compared to its average volume of 2,048,224. CommScope Holding has a one year low of $30.95 and a one year high of $42.75. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78. The firm has a market cap of $6,445.85, a P/E ratio of 15.64, a P/E/G ratio of 2.64 and a beta of 1.16.
CommScope Holding (NASDAQ:COMM) last posted its earnings results 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. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The company’s revenue was down 12.8% on a year-over-year basis. analysts expect that CommScope Holding will post 2.01 EPS for the current fiscal year.
CommScope Holding declared that its Board of Directors has authorized a share buyback program on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares in the last quarter. Krilogy Financial LLC boosted its holdings in CommScope Holding by 5.7% during the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. Financial Architects Inc boosted its holdings in CommScope Holding by 9.8% during the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 322 shares in the last quarter. Parametrica Management Ltd boosted its holdings in CommScope Holding by 3.8% during the second quarter. Parametrica Management Ltd now owns 10,819 shares of the communications equipment provider’s stock worth $411,000 after buying an additional 396 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in CommScope Holding by 1.8% during the second quarter. Scotia Capital Inc. now owns 35,408 shares of the communications equipment provider’s stock worth $1,346,000 after acquiring an additional 609 shares during the period. Institutional investors own 99.22% of the company’s stock.
CommScope Holding 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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