Commscope (NASDAQ:COMM) Updates Q3 Earnings Guidance

Commscope (NASDAQ:COMM) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.37 to $0.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63. The company issued revenue guidance of $2.30 billion to $2.50 billion, compared to the consensus revenue estimate of $2.70 billion.Commscope also updated its Q3 2019 guidance to $0.37-0.47 EPS.

NASDAQ COMM traded down $0.75 on Friday, hitting $12.20. The company’s stock had a trading volume of 5,202,673 shares, compared to its average volume of 3,663,532. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.42 and a current ratio of 2.01. Commscope has a 1-year low of $12.14 and a 1-year high of $31.96. The stock’s 50-day simple moving average is $14.97. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 0.29 and a beta of 1.43.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.16. Commscope had a negative net margin of 5.03% and a positive return on equity of 23.91%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 107.0% on a year-over-year basis. As a group, research analysts expect that Commscope will post 2.24 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on COMM shares. Raymond James lowered shares of Commscope from a strong-buy rating to an outperform rating and reduced their price objective for the company from $25.00 to $21.00 in a research note on Friday, June 14th. JPMorgan Chase & Co. started coverage on shares of Commscope in a research note on Monday, April 22nd. They issued an overweight rating on the stock. ValuEngine lowered shares of Commscope from a sell rating to a strong sell rating in a research note on Saturday, April 13th. Goldman Sachs Group raised shares of Commscope from a neutral rating to a buy rating and reduced their price objective for the company from $20.00 to $19.00 in a research note on Thursday, June 20th. Finally, Morgan Stanley raised shares of Commscope from an equal weight rating to an overweight rating and set a $22.00 price objective on the stock in a research note on Wednesday, June 5th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $20.86.

In other news, COO Bruce William Mcclelland bought 4,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $18.28 per share, for a total transaction of $73,120.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank M. Drendel sold 80,800 shares of the stock in a transaction dated Wednesday, May 15th. The shares were 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. 3.25% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Commscope (NASDAQ:COMM)

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