CommScope Holding Company, Inc. (NASDAQ:COMM) Given Average Recommendation of “Hold” by Brokerages
Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.90.
A number of equities research analysts have recently issued reports on COMM shares. Jefferies Group LLC reiterated a “buy” rating and set a $43.00 price objective on shares of CommScope Holding in a research note on Thursday, June 8th. TheStreet cut CommScope Holding from a “b” rating to a “c+” rating in a research note on Monday, May 22nd. Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Cross Research cut CommScope Holding from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Northland Securities reiterated a “hold” rating and set a $30.00 price objective on shares of CommScope Holding in a research note on Thursday, August 3rd.
CommScope Holding (NASDAQ COMM) traded up 0.85% during trading on Friday, hitting $31.93. 2,252,802 shares of the stock were exchanged. The firm’s 50 day moving average price is $36.08 and its 200-day moving average price is $38.15. CommScope Holding has a 1-year low of $28.28 and a 1-year high of $42.75. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 26.65 and a beta of 1.17.
CommScope Holding (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.05. CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, analysts anticipate that CommScope Holding will post $2.22 EPS for the current year.
CommScope Holding announced that its board has authorized a share repurchase plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Frank M. Drendel sold 15,000 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.94, for a total value of $584,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy T. Yates purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $32.62 per share, for a total transaction of $163,100.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 35,000 shares of company stock worth $1,207,400. 3.33% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted 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 period. Bronfman E.L. Rothschild L.P. boosted 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 period. LS Investment Advisors LLC acquired a new stake in CommScope Holding during the second quarter worth $114,000. Financial Architects Inc boosted 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 period. Finally, Poplar Forest Capital LLC acquired a new stake in CommScope Holding during the first quarter worth $200,000. Institutional investors and hedge funds own 99.02% of the company’s stock.
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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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