Equities research analysts predict that Commscope Holding Company Inc (NASDAQ:COMM) will announce sales of $2.60 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Commscope’s earnings. The lowest sales estimate is $2.54 billion and the highest is $2.65 billion. Commscope posted sales of $1.24 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 109.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Commscope will report full-year sales of $9.21 billion for the current fiscal year, with estimates ranging from $8.93 billion to $9.38 billion. For the next financial year, analysts forecast that the business will post sales of $10.67 billion, with estimates ranging from $10.16 billion to $11.03 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Commscope.
Commscope (NASDAQ:COMM) last issued its earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Commscope had a net margin of 2.29% and a return on equity of 23.46%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year.
Shares of COMM stock traded up $0.05 during mid-day trading on Monday, reaching $14.64. The company’s stock had a trading volume of 3,289,298 shares, compared to its average volume of 2,730,002. The firm’s 50 day moving average is $15.85. Commscope has a 12-month low of $14.29 and a 12-month high of $32.48. The company has a debt-to-equity ratio of 4.28, a current ratio of 2.01 and a quick ratio of 1.42. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.33 and a beta of 1.41.
In other news, COO Bruce William Mcclelland purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $18.28 per share, with a total value of $73,120.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total transaction of $1,482,680.00. The disclosure for this sale can be found here. Insiders own 3.25% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. increased its position in shares of Commscope by 29.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 500,037 shares of the communications equipment provider’s stock worth $10,866,000 after purchasing an additional 113,400 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Commscope in the 1st quarter worth about $639,000. Gotham Asset Management LLC increased its position in shares of Commscope by 190.9% in the 4th quarter. Gotham Asset Management LLC now owns 900,609 shares of the communications equipment provider’s stock worth $14,761,000 after purchasing an additional 591,068 shares during the last quarter. Poplar Forest Capital LLC increased its position in shares of Commscope by 11.6% in the 1st quarter. Poplar Forest Capital LLC now owns 26,187 shares of the communications equipment provider’s stock worth $569,000 after purchasing an additional 2,712 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in shares of Commscope in the 1st quarter worth about $1,380,000. 97.74% of the stock is currently owned by hedge funds and other institutional investors.
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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