Vistance Networks (NASDAQ:VISN) Downgraded to Hold Rating by Zacks Research

Vistance Networks (NASDAQ:VISN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on VISN. Northland Securities set a $17.00 price objective on Vistance Networks in a research report on Friday, May 1st. Wall Street Zen lowered Vistance Networks from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings upgraded Vistance Networks from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Vistance Networks from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Vistance Networks Stock Performance

Vistance Networks stock opened at $12.37 on Tuesday. Vistance Networks has a 52 week low of $7.14 and a 52 week high of $20.55. The business’s 50 day moving average price is $12.86. The company has a market cap of $2.79 billion, a PE ratio of 0.42 and a beta of 2.34.

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

About Vistance Networks

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.