$2.77 Billion in Sales Expected for Commscope Holding Company Inc (COMM) This Quarter

Wall Street brokerages expect Commscope Holding Company Inc (NASDAQ:COMM) to post $2.77 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Commscope’s earnings. The highest sales estimate is $2.79 billion and the lowest is $2.74 billion. Commscope posted sales of $1.24 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 123.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.

On average, analysts expect that Commscope will report full-year sales of $9.54 billion for the current year, with estimates ranging from $9.24 billion to $9.72 billion. For the next year, analysts expect that the business will report sales of $11.17 billion, with estimates ranging from $10.55 billion to $11.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Commscope.

Commscope (NASDAQ:COMM) last issued its earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Commscope had a return on equity of 23.48% and a net margin of 2.29%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year.

Several research analysts have recently commented on COMM shares. Credit Suisse Group raised Commscope from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $20.00 to $34.00 in a research report on Tuesday, April 2nd. Raymond James raised Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. started coverage on Commscope in a research report on Monday, April 22nd. They issued an “overweight” rating for the company. Deutsche Bank started coverage on Commscope in a research report on Friday, April 12th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Morgan Stanley set a $22.00 price target on Commscope and gave the stock a “hold” rating in a research report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.93.

Shares of COMM stock traded up $0.23 during mid-day trading on Tuesday, hitting $19.09. The stock had a trading volume of 9,039,284 shares, compared to its average volume of 3,010,612. Commscope has a 12-month low of $15.09 and a 12-month high of $32.48. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 2.27.

In related news, Director Frank M. Drendel sold 280,143 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $23.61, for a total transaction of $6,614,176.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Peter U. Karlsson sold 6,517 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.63, for a total value of $147,479.71. The disclosure for this sale can be found here. Insiders own 3.35% of the company’s stock.

A number of large investors have recently made changes to their positions in COMM. Meeder Asset Management Inc. purchased a new stake in Commscope during the 4th quarter valued at about $72,000. Quantamental Technologies LLC purchased a new stake in Commscope during the 4th quarter valued at about $76,000. Daiwa Securities Group Inc. grew its stake in Commscope by 11.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock valued at $124,000 after purchasing an additional 750 shares during the last quarter. Bank of Montreal Can grew its stake in Commscope by 24.9% during the 1st quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock valued at $179,000 after purchasing an additional 1,644 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Commscope by 31.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,511 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 2,030 shares during the last quarter. 99.45% of the stock is currently owned by institutional investors.

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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