CommScope Holding Company, Inc. (COMM) Receives “Buy” Rating from Jefferies Group LLC
CommScope Holding Company, Inc. (NASDAQ:COMM)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They presently have a $40.00 price target on the communications equipment provider’s stock, down from their prior price target of $43.00. Jefferies Group LLC’s target price points to a potential upside of 24.38% from the stock’s previous close.
COMM has been the topic of several other reports. Barclays PLC downgraded shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $41.00 to $36.00 in a research note on Friday, August 4th. Deutsche Bank AG upped their price target on shares of CommScope Holding from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Zacks Investment Research downgraded 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 note on Friday, August 4th. Finally, Nomura assumed coverage on shares of CommScope Holding in a research note on Thursday, May 25th. They issued a “buy” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.64.
Shares of CommScope Holding (NASDAQ:COMM) traded down 0.47% during mid-day trading on Wednesday, hitting $32.01. 1,054,107 shares of the stock traded hands. CommScope Holding has a one year low of $28.28 and a one year high of $42.75. The firm has a market capitalization of $6.17 billion, a P/E ratio of 25.88 and a beta of 1.17. The company’s 50 day moving average is $36.71 and its 200 day moving average is $38.25.
CommScope Holding (NASDAQ:COMM) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company posted $0.74 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis. On average, equities analysts expect that CommScope Holding will post $2.27 EPS for the current fiscal year.
CommScope Holding announced that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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In other news, Director Frank M. Drendel sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $38.94, for a total value of $584,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Peter U. Karlsson sold 7,370 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $36.72, for a total transaction of $270,626.40. The disclosure for this sale can be found here. Corporate insiders own 3.33% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its stake 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 during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake 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 during the last quarter. LS Investment Advisors LLC bought a new stake in CommScope Holding during the second quarter worth $114,000. Financial Architects Inc increased its stake 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 during the last quarter. Finally, Poplar Forest Capital LLC bought a new stake in CommScope Holding during the first quarter worth $200,000. Institutional investors own 99.02% of the company’s stock.
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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