CommScope Holding Company, Inc. (COMM) Receives Buy Rating from Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of CommScope Holding Company, Inc. (NASDAQ:COMM) in a research report released on Wednesday morning. They currently have a $40.00 target price on the communications equipment provider’s stock.
Several other research firms have also commented on COMM. Morgan Stanley upgraded shares of CommScope Holding from an equal weight rating to an overweight rating and set a $38.00 price target on the stock in a research report on Thursday, August 17th. Zacks Investment Research upgraded shares of CommScope Holding from a sell rating to a hold rating in a research report on Monday, July 10th. Cross Research lowered shares of CommScope Holding from a buy rating to a hold rating in a research report on Friday, August 4th. Northland Securities reiterated a hold rating and issued a $30.00 target price on shares of CommScope Holding in a research report on Thursday, August 3rd. Finally, Instinet started coverage on shares of 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $41.73.
Shares of CommScope Holding (NASDAQ COMM) opened at 33.17 on Wednesday. The company has a market cap of $6.40 billion, a P/E ratio of 27.69 and a beta of 1.19. CommScope Holding has a 12 month low of $29.57 and a 12 month high of $42.75. The stock’s 50 day moving average is $33.17 and its 200-day moving average is $37.12.
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). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope Holding had a net margin of 4.96% and a return on equity of 33.38%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities analysts forecast that CommScope Holding will post $2.22 EPS for the current year.
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CommScope Holding announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Timothy T. Yates bought 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $32.62 per share, for a total transaction of $163,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claudius E. Iv Watts bought 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $32.87 per share, for a total transaction of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in shares of 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 purchased a new position in shares of CommScope Holding in the second quarter worth about $114,000. Krilogy Financial LLC lifted its stake in shares of CommScope Holding by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 170 shares in the last quarter. Financial Architects Inc lifted its stake in shares of CommScope Holding by 9.8% in the second quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after buying an additional 322 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of CommScope Holding by 76.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after buying an additional 2,064 shares in the last quarter.
About CommScope Holding
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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