Commscope (COMM) Issues Earnings Results, Misses Estimates By $0.07 EPS

Commscope (NASDAQ:COMM) issued its earnings results on Thursday. The communications equipment provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07), MarketWatch Earnings reports. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Commscope had a return on equity of 24.14% and a net margin of 4.43%. Commscope’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS.

Shares of NASDAQ COMM opened at $19.56 on Friday. Commscope has a 1 year low of $18.52 and a 1 year high of $41.60. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.16 and a current ratio of 2.77. The stock has a market cap of $4.76 billion, a P/E ratio of 9.68, a P/E/G ratio of 1.35 and a beta of 1.23.

A number of institutional investors have recently modified their holdings of COMM. JPMorgan Chase & Co. increased its holdings in Commscope by 2.9% during the third quarter. JPMorgan Chase & Co. now owns 10,641,277 shares of the communications equipment provider’s stock valued at $327,324,000 after buying an additional 303,348 shares during the last quarter. BlackRock Inc. lifted its position in Commscope by 9.4% during the second quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock valued at $300,874,000 after purchasing an additional 884,773 shares during the last quarter. Blue Harbour Group L.P. lifted its position in Commscope by 23.3% during the second quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock valued at $278,560,000 after purchasing an additional 1,800,000 shares during the last quarter. FMR LLC lifted its holdings in shares of 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 last quarter. Finally, Makaira Partners LLC lifted its holdings in shares of Commscope by 33.0% in the 2nd quarter. Makaira Partners LLC now owns 1,821,309 shares of the communications equipment provider’s stock worth $53,191,000 after acquiring an additional 451,611 shares during the last quarter.

A number of equities analysts recently commented on the stock. ValuEngine upgraded shares of Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Credit Suisse Group set a $31.00 target price on shares of Commscope and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Commscope from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. BidaskClub cut shares of Commscope from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Northland Securities set a $36.00 price objective on shares of Commscope and gave the company a “buy” rating in a research report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Commscope presently has an average rating of “Hold” and a consensus target price of $34.88.

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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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Earnings History for Commscope (NASDAQ:COMM)

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