Zacks: Analysts Anticipate Commscope Holding Company Inc (COMM) Will Announce Earnings of $0.37 Per Share

Brokerages expect Commscope Holding Company Inc (NASDAQ:COMM) to report $0.37 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Commscope’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.39. Commscope posted earnings of $0.47 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 21.3%. The business is expected to issue its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Commscope will report full-year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $2.20. For the next fiscal year, analysts expect that the firm will post earnings of $2.16 per share, with EPS estimates ranging from $2.10 to $2.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Commscope.

Commscope (NASDAQ:COMM) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07). Commscope had a net margin of 4.69% and a return on equity of 23.68%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 1.9% on a year-over-year basis.



Several research firms have weighed in on COMM. ValuEngine upgraded shares of Commscope from a “sell” rating to a “hold” rating in a report on Friday, September 28th. BidaskClub downgraded shares of Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Cross Research upgraded shares of Commscope from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. Nomura downgraded shares of Commscope from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $35.00 to $31.00 in a report on Friday, October 5th. Finally, Goldman Sachs Group downgraded shares of Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price objective on the stock. in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Commscope presently has a consensus rating of “Hold” and an average price target of $31.02.

Commscope stock opened at $18.73 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.80 and a current ratio of 2.44. Commscope has a 12-month low of $15.09 and a 12-month high of $41.60. The firm has a market cap of $3.53 billion, a P/E ratio of 9.27, a P/E/G ratio of 2.84 and a beta of 1.09.

In related news, CFO Alexander W. Pease purchased 40,000 shares of Commscope stock in a transaction that occurred on Thursday, November 15th. The stock was bought at an average price of $18.70 per share, for a total transaction of $748,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Claudius E. Iv Watts purchased 25,000 shares of Commscope stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average price of $19.00 per share, with a total value of $475,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 76,500 shares of company stock valued at $1,442,400. Company insiders own 3.35% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Commscope by 1.8% during the third quarter. Vanguard Group Inc. now owns 17,155,725 shares of the communications equipment provider’s stock valued at $527,711,000 after buying an additional 303,966 shares during the period. Vanguard Group Inc grew its position in Commscope by 1.8% during the third quarter. Vanguard Group Inc now owns 17,155,725 shares of the communications equipment provider’s stock valued at $527,711,000 after buying an additional 303,966 shares during the period. Franklin Resources Inc. grew its position in Commscope by 42.4% during the third quarter. Franklin Resources Inc. now owns 16,018,037 shares of the communications equipment provider’s stock valued at $492,630,000 after buying an additional 4,769,769 shares during the period. JPMorgan Chase & Co. grew its position in Commscope by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 10,641,277 shares of the communications equipment provider’s stock valued at $327,324,000 after buying an additional 303,348 shares during the period. Finally, BlackRock Inc. grew its position in Commscope by 2.8% during the third quarter. BlackRock Inc. now owns 10,593,048 shares of the communications equipment provider’s stock valued at $325,842,000 after buying an additional 290,848 shares during the period.

About Commscope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

Recommended Story: Balanced Fund

Get a free copy of the Zacks research report on Commscope (COMM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply