Morgan Stanley Begins Coverage on CommScope Holding Co. (COMM)
Morgan Stanley began coverage on shares of CommScope Holding Co. (NASDAQ:COMM) in a research report report published on Tuesday. The brokerage issued an equal weight rating and a $35.00 price objective on the stock.
A number of other research analysts have also commented on COMM. Credit Agricole SA assumed coverage on shares of CommScope Holding in a research report on Wednesday, June 15th. They set a buy rating and a $40.00 price target for the company. Jefferies Group restated a buy rating and set a $38.00 price target on shares of CommScope Holding in a research report on Thursday, September 15th. Deutsche Bank AG restated a buy rating on shares of CommScope Holding in a research report on Wednesday, June 15th. Zacks Investment Research lowered shares of CommScope Holding from a strong-buy rating to a hold rating in a research report on Tuesday, June 28th. Finally, TheStreet upgraded shares of CommScope Holding from a hold rating to a buy rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $33.93.
CommScope Holding (NASDAQ:COMM) opened at 30.79 on Tuesday. The company’s market capitalization is $5.93 billion. CommScope Holding has a 12 month low of $19.37 and a 12 month high of $33.54. The company’s 50-day moving average price is $29.51 and its 200 day moving average price is $29.51.
CommScope Holding (NASDAQ:COMM) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. CommScope Holding had a negative net margin of 1.78% and a positive return on equity of 31.76%. 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 previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 50.7% compared to the same quarter last year. Analysts forecast that CommScope Holding will post $2.50 EPS for the current fiscal year.
In other CommScope Holding news, Director Frank M. Drendel sold 30,000 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $31.22, for a total value of $936,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Randall W. Crenshaw sold 50,000 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $31.18, for a total transaction of $1,559,000.00. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in COMM. Vanguard Group Inc. boosted its stake in shares of CommScope Holding by 19.7% in the second quarter. Vanguard Group Inc. now owns 10,322,245 shares of the company’s stock worth $320,299,000 after buying an additional 1,701,230 shares during the period. FPR Partners LLC boosted its stake in shares of CommScope Holding by 12.8% in the first quarter. FPR Partners LLC now owns 10,133,917 shares of the company’s stock worth $282,939,000 after buying an additional 1,147,834 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CommScope Holding by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 5,241,359 shares of the company’s stock worth $162,639,000 after buying an additional 410,989 shares during the period. Criterion Capital Management LLC boosted its stake in shares of CommScope Holding by 38.9% in the second quarter. Criterion Capital Management LLC now owns 3,949,526 shares of the company’s stock worth $122,554,000 after buying an additional 1,106,659 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of CommScope Holding by 19.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,555,682 shares of the company’s stock worth $110,333,000 after buying an additional 571,805 shares during the period.
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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