In yesterday’s Wall Street session, CommScope Holding Company Inc. (NASDAQ:COMM) shares traded at $8.16, up 4.08% from the previous session.
12 analysts cover CommScope Holding Company Inc. (NASDAQ:COMM), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $7.00, we find $11.50. Given the previous closing price of $7.84, this indicates a potential upside of 46.68 percent. COMM stock price is now -21.06% away from the 50-day moving average and -7.26% away from the 200-day moving average. The market capitalization of the company currently stands at $1.74B.
The stock has received a hold rating from 5 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $11.70 as their price target over the next twelve months.
With the price target enhanced from $11 to $17, Credit Suisse Upgraded its rating from Neutral to Outperform for CommScope Holding Company Inc. (NASDAQ: COMM). On August 05, 2022, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock increasing its target price from $9 to quote $11, while ‘Raymond James’ rates the stock as ‘Underperform’.
In other news, Carlson John R., SVP & Chief Commercial Officer bought 11,868 shares of the company’s stock on Sep 02. The stock was bought for $149,730 at an average price of $12.62. Upon completion of the transaction, the SVP & Chief Commercial Officer now directly owns 167,393 shares in the company, valued at $1.37 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 31, EVP & CFO Lorentzen Kyle David bought 17,700 shares of the business’s stock. A total of $189,209 was incurred on buying the stock at an average price of $10.69. This leaves the insider owning 244,009 shares of the company worth $1.99 million. Insiders disposed of 194,640 shares of company stock worth roughly $1.59 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in COMM stock. A new stake in CommScope Holding Company Inc. shares was purchased by LUXOR CAPITAL GROUP, LP during the first quarter worth $14,640,000. TWO SIGMA INVESTMENTS, LP invested $12,816,000 in shares of COMM during the first quarter. In the first quarter, WOODLINE PARTNERS LP acquired a new stake in CommScope Holding Company Inc. valued at approximately $10,955,000. HILLSDALE INVESTMENT MANAGEMENT INC. acquired a new stake in COMM for approximately $4,191,000. ALPHA PARADIGM PARTNERS, LLC purchased a new stake in COMM valued at around $3,213,000 in the second quarter. In total, there are 313 active investors with 93.30% ownership of the company’s stock.
On Thursday morning CommScope Holding Company Inc. (NASDAQ: COMM) stock kicked off with the opening price of $7.97. During the past 12 months, CommScope Holding Company Inc. has had a low of $5.56 and a high of $13.73. The fifty day moving average price for COMM is $10.34 and a two-hundred day moving average price translates $8.80 for the stock.
The latest earnings results from CommScope Holding Company Inc. (NASDAQ: COMM) was released for Jun, 2022. According to the Communication Equipment Company, earnings per share came in at $0.41, beating analysts’ expectations of $0.29 by 0.12. This compares to -$0.61 EPS in the same period last year. The net profit margin was -3.50% and return on equity was 87.40% for COMM. The company reported revenue of $2.38 billion for the quarter, compared to $2.11 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.11 percent. For the current quarter, analysts expect COMM to generate $2.3B in revenue.
CommScope Holding Company Inc.(COMM) Company Profile
CommScope Holding Company, Inc. provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market. The OWN segment provides base station antennas, radio frequency filters, tower connectivity, microwave antennas, metro cell products, cabinets, steel towers, accessories, Spectrum Access System, and Comsearch products to the macro and metro cell markets. The VCN segment offers Wi-Fi and switching, distributed antenna systems, licensed and unlicensed small cells, enterprise fiber, and copper infrastructures for campuses, venues, data centers, and buildings. The Home segment provides devices and related software, and management solutions that offer residential connectivity and services to subscribers, such as digital subscriber lines, cable modems, and telephony and data gateways; and set top boxes and software that support cable, satellite, and Internet protocol television content delivery, which include digital video recorders, high definition set top boxes, and hybrid set top devices. It offers its products and services through specialized resellers and distributors, satellite video distributors, and system integrators, as well as directly to customers in the United States, Europe, the Middle East, Africa, the Asia Pacific, the Caribbean, Latin America, and Canada. The company was formerly known as Cedar I Holding Company, Inc. and changed its name to CommScope Holding Company, Inc. in January 2011. CommScope Holding Company, Inc. was founded in 1976 and is headquartered in Hickory, North Carolina.