According to Zacks, “CommScope Holding Inc. is a premier network infrastructure provider. The Company, through its subsidiaries, provides end-to-end solutions connecting technology and wireless and wired networks. It operates in three segments: Wireless, Enterprise, and Broadband. CommScope Holding Company, Inc. is headquartered in Hickory, North Carolina. “
Other analysts also recently issued reports about the company. Deutsche Bank AG restated a buy rating and issued a $35.00 price target on shares of CommScope Holding in a research note on Monday, September 19th. Jefferies Group restated a buy rating and issued a $38.00 price target on shares of CommScope Holding in a research note on Thursday, September 15th. TheStreet upgraded CommScope Holding from a hold rating to a buy rating in a research report on Friday, July 29th. Credit Suisse Group AG reiterated a buy rating on shares of CommScope Holding in a research report on Friday, July 29th. Finally, BTIG Research started coverage on CommScope Holding in a research report on Friday, June 17th. They set a buy rating and a $41.00 target price for the company. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $34.07.
CommScope Holding (NASDAQ:COMM) opened at 30.23 on Wednesday. The firm’s 50-day moving average price is $29.81 and its 200 day moving average price is $29.73. CommScope Holding has a 1-year low of $19.37 and a 1-year high of $33.54. The firm’s market capitalization is $5.82 billion.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The business earned $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. On average, analysts predict that CommScope Holding will post $2.50 EPS for the current year.
In other CommScope Holding news, SVP Peter U. Karlsson sold 7,796 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $30.06, for a total value of $234,347.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank M. Drendel sold 7,336 shares of the company’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $31.24, for a total value of $229,176.64. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Societe Generale purchased a new position in shares of CommScope Holding during the second quarter worth about $100,000. Acrospire Investment Management LLC boosted its position in shares of CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock worth $102,000 after buying an additional 2,000 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of CommScope Holding during the second quarter worth about $126,000. US Bancorp DE boosted its position in shares of CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock worth $141,000 after buying an additional 2,160 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of CommScope Holding during the second quarter worth about $208,000.
CommScope Holding Company Profile
CommScope Holding Company, Inc is provider of infrastructure solutions for wireless, business enterprise and residential broadband networks. The Company operates through four segments: Wireless, Enterprise, Broadband and Broadband Network Solutions (BNS). Its Wireless segment provides merchant RF wireless network connectivity solutions and cell distributed antenna systems (DAS) solutions to enable carriers’ second generation (2G), third generation (3G) and fourth generation (4G) networks.
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