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.
Several brokerages recently commented on COMM. BidaskClub downgraded shares of Commscope from a sell rating to a strong sell rating in a research report on Tuesday, July 23rd. Nomura reduced their price target on shares of Commscope from $24.00 to $17.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Raymond James downgraded shares of Commscope from a strong-buy rating to an outperform rating and reduced their price target for the company from $25.00 to $21.00 in a research report on Friday, June 14th. Northland Securities restated a buy rating and issued a $22.50 price target on shares of Commscope in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Commscope from a strong-buy rating to a sell rating and set a $17.00 price target for the company. in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $20.86.
COMM stock traded down $0.75 during midday trading on Friday, reaching $12.20. The company had a trading volume of 5,202,673 shares, compared to its average volume of 3,663,532. Commscope has a 1 year low of $12.14 and a 1 year high of $31.96. The company has a debt-to-equity ratio of 4.28, a current ratio of 2.01 and a quick ratio of 1.42. The stock has a market capitalization of $2.51 billion, a P/E ratio of 5.78, a P/E/G ratio of 0.29 and a beta of 1.43. The company’s 50 day moving average price is $14.97.
In other Commscope news, COO Bruce William Mcclelland purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $18.00 per share, for a total transaction of $63,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank M. Drendel sold 80,800 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $15.84, for a total transaction of $1,279,872.00. The disclosure for this sale can be found here. 3.25% of the stock is owned by corporate 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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