Commscope Holding Company Inc (NASDAQ:COMM) SVP Frank B. Wyatt II purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average price of $18.80 per share, for a total transaction of $141,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ:COMM traded up $0.12 during trading hours on Wednesday, hitting $18.63. 6,274,392 shares of the stock were exchanged, compared to its average volume of 1,911,238. Commscope Holding Company Inc has a twelve month low of $18.39 and a twelve month high of $41.60. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.80 and a current ratio of 2.44. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 1.06 and a beta of 1.23.
Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). Commscope had a return on equity of 23.68% and a net margin of 4.69%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Commscope Holding Company Inc will post 2.21 EPS for the current fiscal year.
A number of equities research analysts recently commented on COMM shares. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Goldman Sachs Group lowered Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Tuesday, October 9th. BidaskClub lowered Commscope from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Raymond James upgraded Commscope from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 8th. Finally, Longbow Research lowered Commscope from a “buy” rating to a “neutral” rating in a research report on Friday, November 9th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.96.
A number of large investors have recently bought and sold shares of COMM. Capital International Investors acquired a new position in Commscope during the 3rd quarter worth $288,437,000. Franklin Resources Inc. lifted its holdings in Commscope by 42.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,018,037 shares of the communications equipment provider’s stock worth $492,630,000 after buying an additional 4,769,769 shares in the last quarter. Blue Harbour Group L.P. lifted its stake in shares of Commscope by 23.3% in the 2nd 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 period. Sound Shore Management Inc. CT acquired a new position in shares of Commscope in the 3rd quarter valued at $54,841,000. Finally, Prudential Financial Inc. lifted its stake in shares of Commscope by 383.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,563,840 shares of the communications equipment provider’s stock valued at $48,104,000 after purchasing an additional 1,240,300 shares during the period.
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Commscope Company Profile
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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