Deutsche Bank AG Reaffirms “Buy” Rating for CommScope Holding Co. (COMM)
Several other research analysts have also recently weighed in on COMM. Credit Suisse Group AG reiterated a buy rating on shares of CommScope Holding in a research report on Sunday, May 22nd. Credit Agricole SA assumed coverage on CommScope Holding in a research report on Wednesday, June 15th. They set a buy rating and a $40.00 price objective on the stock. Jefferies Group reiterated a buy rating and set a $38.00 price objective on shares of CommScope Holding in a research report on Thursday, September 15th. Zacks Investment Research cut CommScope Holding from a strong-buy rating to a hold rating in a research report on Tuesday, June 28th. Finally, TheStreet upgraded CommScope Holding from a hold rating to a buy rating in a research report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $33.93.
CommScope Holding (NASDAQ:COMM) opened at 30.64 on Monday. CommScope Holding has a 12-month low of $19.37 and a 12-month high of $33.54. The company has a 50 day moving average price of $29.46 and a 200-day moving average price of $29.50. The company’s market capitalization is $5.90 billion.
CommScope Holding (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. CommScope Holding had a positive return on equity of 31.76% and a negative net margin of 1.78%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 50.7% on a year-over-year basis. On average, analysts anticipate that CommScope Holding will post $2.50 EPS for the current year.
In related news, COO Randall W. Crenshaw sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $31.18, for a total value of $1,559,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Group L.P. Carlyle sold 11,500,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $29.04, for a total value of $333,960,000.00. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Societe Generale acquired a new stake in CommScope Holding during the second quarter valued at $100,000. Acrospire Investment Management LLC increased its position in CommScope Holding by 153.8% in the second quarter. Acrospire Investment Management LLC now owns 3,300 shares of the company’s stock valued at $102,000 after buying an additional 2,000 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in CommScope Holding during the second quarter valued at approximately $126,000. US Bancorp DE increased its position in CommScope Holding by 90.1% in the second quarter. US Bancorp DE now owns 4,558 shares of the company’s stock valued at $141,000 after buying an additional 2,160 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in CommScope Holding during the second quarter valued at approximately $208,000.
About CommScope Holding
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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