Zacks: Brokerages Anticipate Commscope Holding Company Inc (COMM) to Announce $0.66 EPS

Wall Street brokerages expect Commscope Holding Company Inc (NASDAQ:COMM) to announce earnings per share (EPS) of $0.66 for the current quarter, Zacks reports. Four analysts have made estimates for Commscope’s earnings, with estimates ranging from $0.63 to $0.68. Commscope posted earnings per share of $0.55 during the same quarter last year, which suggests a positive year over year growth rate of 20%. The company is scheduled to issue its next earnings results before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Commscope will report full year earnings of $2.41 per share for the current year, with EPS estimates ranging from $2.31 to $2.47. For the next year, analysts forecast that the firm will post earnings of $2.66 per share, with EPS estimates ranging from $2.40 to $2.84. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Commscope.

Commscope (NASDAQ:COMM) last released its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year.

Several research firms have weighed in on COMM. BidaskClub cut Commscope from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. Goldman Sachs Group cut Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Tuesday, October 9th. Nomura cut Commscope from a “buy” rating to a “neutral” rating and lowered their price target for the company from $35.00 to $31.00 in a report on Friday, October 5th. Cross Research raised Commscope from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. Finally, ValuEngine raised Commscope from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $34.88.

Shares of NASDAQ:COMM traded up $0.62 on Tuesday, hitting $25.77. The company’s stock had a trading volume of 1,728,100 shares, compared to its average volume of 1,644,184. Commscope has a 1 year low of $24.82 and a 1 year high of $41.60. The stock has a market cap of $5.91 billion, a P/E ratio of 12.66, a PEG ratio of 1.67 and a beta of 0.99. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Commscope during the 2nd quarter valued at about $123,000. Twin Tree Management LP purchased a new position in shares of Commscope during the 2nd quarter valued at about $151,000. NumerixS Investment Technologies Inc raised its holdings in shares of Commscope by 6,300.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the communications equipment provider’s stock valued at $185,000 after buying an additional 6,300 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Commscope during the 2nd quarter valued at about $202,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Commscope during the 2nd quarter valued at about $202,000.

Commscope Company Profile

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.

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