Zacks: Brokerages Expect CommScope Holding Company, Inc. (NASDAQ:COMM) Will Announce Earnings of $0.33 Per Share

Wall Street analysts forecast that CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) will report $0.33 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for CommScope’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.41. CommScope reported earnings per share of $0.43 in the same quarter last year, which indicates a negative year over year growth rate of 23.3%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CommScope will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.80. For the next fiscal year, analysts expect that the company will report earnings of $2.35 per share, with EPS estimates ranging from $2.02 to $2.71. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for CommScope.

CommScope (NASDAQ:COMMGet Rating) last announced its earnings results on Thursday, May 5th. The communications equipment provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $0.27 EPS. CommScope’s revenue for the quarter was up 7.6% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on CommScope from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Tuesday, April 12th. Credit Suisse Group raised their price target on CommScope from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, February 18th. StockNews.com assumed coverage on CommScope in a research report on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group lowered CommScope from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $9.00 in a research report on Friday, April 1st. Finally, Bank of America lowered CommScope from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $12.00 to $8.00 in a research report on Friday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.40.

NASDAQ:COMM traded up $0.58 on Friday, reaching $7.20. 5,648,709 shares of the company’s stock traded hands, compared to its average volume of 4,380,996. The stock has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $9.11. The firm has a market cap of $1.49 billion, a PE ratio of -2.62, a P/E/G ratio of 0.18 and a beta of 1.69. CommScope has a 12 month low of $5.94 and a 12 month high of $22.18.

In other CommScope news, Director Claudius E. Iv Watts acquired 4,000 shares of CommScope stock in a transaction that occurred on Tuesday, March 8th. The stock was bought at an average price of $7.43 per share, with a total value of $29,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy T. Yates acquired 5,000 shares of CommScope stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average cost of $10.06 per share, with a total value of $50,300.00. The disclosure for this purchase can be found here. Insiders have bought 38,500 shares of company stock valued at $321,200 in the last ninety days. Insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in CommScope by 11.5% in the first quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock worth $212,781,000 after purchasing an additional 2,790,362 shares during the last quarter. FPR Partners LLC grew its holdings in CommScope by 12.3% in the fourth quarter. FPR Partners LLC now owns 19,473,018 shares of the communications equipment provider’s stock worth $214,982,000 after purchasing an additional 2,140,000 shares during the last quarter. BlackRock Inc. grew its holdings in CommScope by 22.1% in the first quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock worth $111,616,000 after purchasing an additional 2,560,861 shares during the last quarter. Lyrical Asset Management LP grew its holdings in CommScope by 9.4% in the first quarter. Lyrical Asset Management LP now owns 9,015,148 shares of the communications equipment provider’s stock worth $71,039,000 after purchasing an additional 770,938 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in CommScope by 9.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,871,351 shares of the communications equipment provider’s stock worth $62,026,000 after purchasing an additional 710,698 shares during the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

About CommScope (Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, 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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