CommScope Holding Company, Inc. (NASDAQ:COMM) Expected to Announce Quarterly Sales of $2.26 Billion

Brokerages expect CommScope Holding Company, Inc. (NASDAQ:COMMGet Rating) to announce sales of $2.26 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for CommScope’s earnings, with the lowest sales estimate coming in at $2.24 billion and the highest estimate coming in at $2.29 billion. CommScope reported sales of $2.19 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CommScope will report full-year sales of $9.11 billion for the current financial year, with estimates ranging from $8.94 billion to $9.35 billion. For the next financial year, analysts anticipate that the company will post sales of $9.47 billion, with estimates ranging from $9.09 billion to $10.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for CommScope.

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

COMM has been the topic of several research analyst reports. StockNews.com began coverage on shares of CommScope in a research note on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group cut shares of CommScope from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $9.00 in a research note on Friday, April 1st. Citigroup lowered their price objective on shares of CommScope from $8.50 to $6.00 in a research note on Friday, May 6th. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, April 11th. Finally, Morgan Stanley lowered their price objective on shares of CommScope from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.40.

COMM opened at $8.05 on Monday. The stock has a market capitalization of $1.67 billion, a P/E ratio of -2.93, a P/E/G ratio of 0.21 and a beta of 1.67. The company’s 50-day simple moving average is $6.98 and its two-hundred day simple moving average is $8.78. CommScope has a 52-week low of $5.94 and a 52-week high of $22.18.

In related news, CEO Charles L. Treadway acquired 59,927 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was acquired at an average cost of $8.34 per share, with a total value of $499,791.18. Following the acquisition, the chief executive officer now directly owns 1,212,302 shares in the company, valued at approximately $10,110,598.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Claudius E. Iv Watts acquired 4,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were bought at an average cost of $7.43 per share, with a total value of $29,720.00. The disclosure for this purchase can be found here. Insiders purchased a total of 79,927 shares of company stock valued at $642,771 over the last three months. 2.40% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new stake in CommScope in the fourth quarter worth $28,000. Neo Ivy Capital Management bought a new stake in CommScope in the fourth quarter worth $35,000. Acadian Asset Management LLC bought a new stake in CommScope in the first quarter worth $51,000. National Bank of Canada FI lifted its position in CommScope by 25.9% in the first quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider’s stock worth $56,000 after buying an additional 1,455 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in CommScope in the fourth quarter worth $70,000. 92.71% of the stock is owned by hedge funds and other institutional investors.

CommScope Company Profile (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.

Read More

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

Want More Great Investing Ideas?

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.