Commscope (NASDAQ:COMM) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.07), MarketWatch Earnings reports. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis.
Shares of COMM traded down $5.55 during trading hours on Thursday, hitting $18.94. The stock had a trading volume of 900,360 shares, compared to its average volume of 2,545,107. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. The company has a market cap of $4.76 billion, a PE ratio of 9.42, a P/E/G ratio of 1.35 and a beta of 1.23. Commscope has a 1-year low of $23.14 and a 1-year high of $41.60.
Institutional investors and hedge funds have recently modified their holdings of the company. Olstein Capital Management L.P. grew its stake in shares of Commscope by 97.3% in the 2nd quarter. Olstein Capital Management L.P. now owns 268,300 shares of the communications equipment provider’s stock valued at $7,836,000 after buying an additional 132,300 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Commscope by 9.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 192,426 shares of the communications equipment provider’s stock valued at $5,620,000 after buying an additional 16,231 shares during the period. Bank of America Corp DE grew its stake in shares of Commscope by 24.2% in the 2nd quarter. Bank of America Corp DE now owns 613,362 shares of the communications equipment provider’s stock valued at $17,914,000 after buying an additional 119,617 shares during the period. BB&T Securities LLC grew its stake in shares of Commscope by 80.5% in the 2nd quarter. BB&T Securities LLC now owns 34,515 shares of the communications equipment provider’s stock valued at $1,008,000 after buying an additional 15,388 shares during the period. Finally, Jabodon PT Co. acquired a new stake in shares of Commscope in the 3rd quarter valued at about $3,140,000.
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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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