CommScope Holding Company, Inc. (NASDAQ:COMM) Downgraded by Barclays PLC to “Equal Weight”
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded CommScope Holding from a hold rating to a buy rating in a research report on Monday, July 31st. Deutsche Bank AG boosted their target price on CommScope Holding from $42.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, April 19th. Zacks Investment Research upgraded CommScope Holding from a sell rating to a buy rating and set a $47.00 target price on the stock in a research report on Tuesday, May 2nd. Jefferies Group LLC reiterated a buy rating and issued a $43.00 target price on shares of CommScope Holding in a research report on Friday, July 14th. Finally, Instinet initiated coverage on CommScope Holding in a research report on Thursday, May 25th. They issued a buy rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. CommScope Holding presently has an average rating of Hold and an average target price of $42.91.
CommScope Holding (NASDAQ:COMM) opened at 32.74 on Friday. CommScope Holding has a 12 month low of $28.28 and a 12 month high of $42.75. The stock’s 50 day moving average price is $36.97 and its 200 day moving average price is $38.33. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 26.47 and a beta of 1.17.
CommScope Holding (NASDAQ:COMM) last posted its earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. CommScope Holding’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Equities research analysts anticipate that CommScope Holding will post $2.39 earnings per share for the current fiscal year.
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CommScope Holding announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other CommScope Holding news, SVP Peter U. Karlsson sold 7,370 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $36.72, for a total transaction of $270,626.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank M. Drendel sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $38.94, for a total value of $584,100.00. The disclosure for this sale can be found here. Insiders own 3.33% of the company’s stock.
A number of large investors have recently modified their holdings of COMM. Bronfman E.L. Rothschild L.P. boosted its position in CommScope Holding by 19.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,706 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 439 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in CommScope Holding by 6.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 160 shares in the last quarter. LS Investment Advisors LLC acquired a new position in CommScope Holding during the second quarter worth approximately $114,000. Financial Architects Inc boosted its position in CommScope Holding by 61.1% in the first quarter. Financial Architects Inc now owns 3,281 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 1,244 shares in the last quarter. Finally, Poplar Forest Capital LLC acquired a new position in CommScope Holding during the first quarter worth approximately $200,000. 99.02% of the stock is currently owned by institutional investors.
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.
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