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 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.
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