Brokerages Expect CommScope Holding Company, Inc. (NASDAQ:COMM) Will Announce Quarterly Sales of $2.01 Billion

Brokerages forecast that CommScope Holding Company, Inc. (NASDAQ:COMM) will announce $2.01 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for CommScope’s earnings. The highest sales estimate is $2.06 billion and the lowest is $1.95 billion. CommScope reported sales of $2.03 billion during the same quarter last year, which indicates a negative year over year growth rate of 1%. The firm is expected to announce its next earnings report before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that CommScope will report full year sales of $8.50 billion for the current financial year, with estimates ranging from $8.28 billion to $8.62 billion. For the next financial year, analysts forecast that the business will post sales of $8.62 billion, with estimates ranging from $8.37 billion to $8.74 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow CommScope.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Tuesday, February 16th. The communications equipment provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.22. CommScope had a positive return on equity of 51.48% and a negative net margin of 12.02%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.20 billion.

Several equities research analysts have recently commented on COMM shares. TheStreet upgraded CommScope from a “d+” rating to a “c-” rating in a research note on Wednesday, March 10th. Wolfe Research boosted their target price on shares of CommScope from $23.00 to $20.00 in a research report on Friday, April 9th. Rosenblatt Securities upgraded shares of CommScope from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, April 14th. Morgan Stanley boosted their price objective on shares of CommScope from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, January 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CommScope from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $21.00 in a research report on Monday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.83.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COMM. Cannell Peter B & Co. Inc. acquired a new stake in CommScope during the 4th quarter valued at $36,324,000. Norges Bank acquired a new stake in CommScope during the 4th quarter valued at $29,365,000. Nuveen Asset Management LLC grew its holdings in CommScope by 42.9% during the 4th quarter. Nuveen Asset Management LLC now owns 7,003,455 shares of the communications equipment provider’s stock valued at $93,846,000 after buying an additional 2,103,310 shares during the last quarter. Boston Partners grew its holdings in CommScope by 156.3% during the 4th quarter. Boston Partners now owns 1,335,480 shares of the communications equipment provider’s stock valued at $17,895,000 after buying an additional 814,475 shares during the last quarter. Finally, Peconic Partners LLC acquired a new stake in CommScope during the 4th quarter valued at $10,720,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Shares of CommScope stock traded down $0.27 during trading hours on Monday, hitting $16.24. 98,707 shares of the company were exchanged, compared to its average volume of 2,606,408. CommScope has a 1 year low of $7.56 and a 1 year high of $17.97. The company has a current ratio of 1.66, a quick ratio of 1.12 and a debt-to-equity ratio of 37.74. The business has a 50-day moving average of $15.94 and a 200-day moving average of $13.39. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -2.93, a P/E/G ratio of 6.34 and a beta of 1.86.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Home Networks (Home), Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN).The Broadband segment provides a converged cable access platform, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

Featured Story: Do closed-end mutual funds pay dividends?

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.