Commscope (COMM) Stock Price Down 2.5% After Earnings Miss
Shares of Commscope Holding Company Inc (NASDAQ:COMM) dropped 2.5% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $18.52 and last traded at $19.08. Approximately 169,390 shares changed hands during trading, a decline of 93% from the average daily volume of 2,545,107 shares. The stock had previously closed at $19.56.
The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.22 billion. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS.
COMM has been the topic of several recent research reports. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a 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 report on Tuesday, October 9th. BidaskClub lowered Commscope from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. Raymond James upgraded Commscope from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Longbow Research lowered Commscope from a “buy” rating to a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Commscope currently has an average rating of “Hold” and a consensus price target of $33.79.
The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57. The stock has a market cap of $4.71 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.34 and a beta of 1.23.
About Commscope (NASDAQ:COMM)
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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