$1.22 Billion in Sales Expected for Commscope Holding Company Inc (COMM) This Quarter
Wall Street analysts forecast that Commscope Holding Company Inc (NASDAQ:COMM) will report sales of $1.22 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Commscope’s earnings, with estimates ranging from $1.20 billion to $1.24 billion. Commscope reported sales of $1.13 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The company is scheduled to report its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Commscope will report full-year sales of $4.74 billion for the current year, with estimates ranging from $4.69 billion to $4.77 billion. For the next year, analysts expect that the company will post sales of $4.87 billion per share, with estimates ranging from $4.74 billion to $4.98 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Commscope.
Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year.
Shares of NASDAQ COMM traded down $0.55 on Friday, reaching $30.28. 2,332,700 shares of the company traded hands, compared to its average volume of 1,542,500. Commscope has a fifty-two week low of $26.29 and a fifty-two week high of $41.60. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. The company has a market cap of $5.98 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.69 and a beta of 0.98.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Commscope by 0.3% in the 1st quarter. JPMorgan Chase & Co. now owns 11,425,165 shares of the communications equipment provider’s stock worth $456,663,000 after acquiring an additional 29,754 shares during the period. BlackRock Inc. boosted its holdings in Commscope by 9.4% in the 2nd quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock worth $300,874,000 after acquiring an additional 884,773 shares during the period. Blue Harbour Group L.P. boosted its holdings in Commscope by 23.3% in the 2nd quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock worth $278,560,000 after acquiring an additional 1,800,000 shares during the period. FMR LLC boosted its holdings in Commscope by 14.2% in the 2nd quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock worth $275,208,000 after acquiring an additional 1,168,575 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Commscope by 96.5% in the 1st quarter. Franklin Resources Inc. now owns 8,495,600 shares of the communications equipment provider’s stock worth $339,576,000 after acquiring an additional 4,172,171 shares during the period.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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