Vistance Networks (NASDAQ:VISN) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Vistance Networks, Inc. (NASDAQ:VISN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $12.25. Vistance Networks shares last traded at $11.75, with a volume of 6,266,111 shares trading hands.

Analyst Ratings Changes

VISN has been the subject of a number of research reports. Northland Securities set a $17.00 price objective on Vistance Networks in a research note on Friday, May 1st. Evercore initiated coverage on Vistance Networks in a research note on Thursday, February 26th. They issued a “hold” rating and a $20.00 price objective for the company. Wall Street Zen cut Vistance Networks from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Zacks Research raised Vistance Networks from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Vistance Networks from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Vistance Networks Price Performance

The company has a market capitalization of $2.65 billion, a PE ratio of 0.40 and a beta of 2.34. The stock has a 50 day simple moving average of $15.06.

Vistance Networks (NASDAQ:VISN) last released its earnings results on Thursday, April 30th. The business services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.17 by $0.17. Vistance Networks had a negative return on equity of 136.98% and a net margin of 175.01%.The firm had revenue of $471.80 million during the quarter. Vistance Networks’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Vistance Networks, Inc. will post 1.11 earnings per share for the current fiscal year.

Vistance Networks Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, April 27th. Shareholders of record on Friday, April 17th were issued a dividend of $10.00 per share.

Vistance Networks Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.