Wall Street analysts forecast that Commscope Holding Company Inc (NASDAQ:COMM) will report $1.08 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Commscope’s earnings. The highest sales estimate is $1.09 billion and the lowest is $1.07 billion. Commscope posted sales of $1.12 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The firm is expected to issue its next earnings results before the market opens on Thursday, May 9th.

According to Zacks, analysts expect that Commscope will report full year sales of $9.66 billion for the current year, with estimates ranging from $9.62 billion to $9.72 billion. For the next financial year, analysts forecast that the business will report sales of $11.31 billion, with estimates ranging from $11.11 billion to $11.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Commscope.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. Commscope had a net margin of 3.07% and a return on equity of 23.55%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Commscope’s quarterly revenue was down 5.6% compared to the same quarter last year.

A number of brokerages recently weighed in on COMM. BidaskClub raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Sunday, April 7th. Morgan Stanley reduced their price target on shares of Commscope from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Raymond James raised shares of Commscope from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, April 3rd. ValuEngine cut shares of Commscope from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research raised shares of Commscope from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.93.

In related news, SVP Peter U. Karlsson sold 6,517 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.63, for a total transaction of $147,479.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank M. Drendel sold 280,143 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $23.61, for a total transaction of $6,614,176.23. The disclosure for this sale can be found here. Corporate insiders own 3.35% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in Commscope during the fourth quarter worth about $72,000. Quantamental Technologies LLC acquired a new position in Commscope during the fourth quarter worth about $76,000. Daiwa Securities Group Inc. grew its position in Commscope by 11.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock worth $124,000 after buying an additional 750 shares during the period. Bank of Montreal Can grew its position in Commscope by 24.9% during the first quarter. Bank of Montreal Can now owns 8,256 shares of the communications equipment provider’s stock worth $179,000 after buying an additional 1,644 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in Commscope during the first quarter worth about $208,000. Institutional investors own 99.84% of the company’s stock.

Shares of COMM opened at $24.13 on Tuesday. Commscope has a 1-year low of $15.09 and a 1-year high of $32.48. The firm has a market capitalization of $4.69 billion, a P/E ratio of 11.44, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 2.27, a current ratio of 2.72 and a quick ratio of 2.03.

About Commscope

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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