CommScope Holding Company, Inc. (NASDAQ:COMM) had its price target raised by Citigroup Inc. from $39.00 to $40.00 in a research report released on Thursday. They currently have a buy rating on the communications equipment provider’s stock.
COMM has been the subject of a number of other reports. Jefferies Group LLC reiterated a buy rating and set a $43.00 target price on shares of CommScope Holding in a research note on Friday, July 14th. Barclays PLC lowered shares of CommScope Holding from an overweight rating to an equal weight rating and decreased their target price for the company from $41.00 to $36.00 in a research note on Friday, August 4th. Zacks Investment Research lowered shares of CommScope Holding from a hold rating to a sell rating in a research note on Thursday, August 3rd. Longbow Research downgraded shares of CommScope Holding from a buy rating to a neutral rating in a research report on Friday, August 4th. Finally, TheStreet raised shares of CommScope Holding from a c+ rating to a b rating in a research report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $40.27.
Shares of CommScope Holding (NASDAQ COMM) traded up $0.65 on Thursday, reaching $34.16. 823,698 shares of the company’s stock were exchanged, compared to its average volume of 1,562,533. The firm has a market capitalization of $6,392.44, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93.
CommScope Holding (NASDAQ:COMM) last announced its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. CommScope Holding had a net margin of 4.21% and a return on equity of 29.11%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. equities research analysts anticipate that CommScope Holding will post 2.07 earnings per share for the current year.
CommScope Holding announced that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Timothy T. Yates purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $32.62 per share, for a total transaction of $163,100.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.33% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of CommScope Holding during the 2nd quarter valued at about $21,145,000. Utah Retirement Systems raised its position in shares of CommScope Holding by 49.8% during the 2nd quarter. Utah Retirement Systems now owns 34,900 shares of the communications equipment provider’s stock valued at $1,327,000 after buying an additional 11,600 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of CommScope Holding during the 2nd quarter valued at about $38,211,000. Swiss National Bank raised its position in shares of CommScope Holding by 122.7% during the 2nd quarter. Swiss National Bank now owns 710,000 shares of the communications equipment provider’s stock valued at $27,001,000 after buying an additional 391,157 shares in the last quarter. Finally, Andra AP fonden purchased a new stake in shares of CommScope Holding during the 2nd quarter valued at about $1,491,000.
CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
What are top analysts saying about CommScope Holding Company Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CommScope Holding Company Inc. and related companies.