CommScope Holding Company, Inc. (COMM) Bond Prices Fall 0.8%
An issue of CommScope Holding Company, Inc. (NASDAQ:COMM) bonds fell 0.8% against their face value during trading on Tuesday. The high-yield debt issue has a 5% coupon and is set to mature on March 15, 2027. The bonds in the issue are now trading at $98.00 and were trading at $99.63 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
A number of research firms have recently issued reports on COMM. TheStreet raised shares of CommScope Holding from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price target (down from $43.00) on shares of CommScope Holding in a research note on Wednesday, August 9th. Northland Securities reissued a “hold” rating and issued a $28.00 price target on shares of CommScope Holding in a research note on Thursday, August 10th. Longbow Research downgraded shares of CommScope Holding from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Finally, Barclays PLC downgraded shares of CommScope Holding from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $41.00 to $36.00 in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. CommScope Holding presently has a consensus rating of “Buy” and a consensus price target of $40.73.
Shares of CommScope Holding Company, Inc. (NASDAQ COMM) traded up 0.44% during trading on Tuesday, hitting $32.14. 2,954,145 shares of the stock traded hands. CommScope Holding Company, Inc. has a 12 month low of $29.91 and a 12 month high of $42.75. The stock has a market cap of $6.20 billion, a PE ratio of 26.83 and a beta of 1.19. The firm’s 50-day moving average price is $32.81 and its 200-day moving average price is $35.51.
CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.05). CommScope Holding had a return on equity of 33.38% and a net margin of 4.96%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts anticipate that CommScope Holding Company, Inc. will post $2.21 EPS for the current year.
CommScope Holding announced that its board has initiated a stock buyback program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Director Timothy T. Yates bought 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $32.62 per share, for a total transaction of $163,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claudius E. Iv Watts bought 15,000 shares of the stock in a transaction dated Monday, August 7th. The stock was purchased at an average price of $32.87 per share, with a total value of $493,050.00. The disclosure for this purchase can be found here. 3.33% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 160 shares during the last quarter. LS Investment Advisors LLC bought a new stake in shares of CommScope Holding in the 2nd quarter worth about $114,000. Krilogy Financial LLC lifted its holdings in shares of CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 170 shares during the last quarter. Financial Architects Inc lifted its holdings in shares of CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock worth $137,000 after acquiring an additional 322 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in shares of CommScope Holding by 76.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock worth $181,000 after acquiring an additional 2,064 shares during the last quarter.
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CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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