Commscope Holding Company Inc (COMM) was Initiated by Morgan Stanley to “Equal-Weight” and the brokerage firm has set the Price Target at $35. Morgan Stanley advised their investors in a research report released on Sep 20, 2016.
On the company’s financial health, Commscope Holding Company Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.69. The company had revenue of $1306.80 million for the quarter, compared to analysts expectations of $1302.50 million. The company’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Commscope Holding Company Inc opened for trading at $30.38 and hit $30.6 on the upside on Friday, eventually ending the session at $30.5, with a gain of 0.40% or 0.12 points. The heightened volatility saw the trading volume jump to 1,849,489 shares. Company has a market cap of $5,875 M.
In a different news, on Sep 2, 2016, Peter U Karlsson (SVP of CommScope, Inc.) sold 7,796 shares at $29.73 per share price. According to the SEC, on Jul 8, 2016, Frank M Drendel (director) sold 7,336 shares at $31.24 per share price. On Jun 22, 2016, Frank B Ii Wyatt (SVP, General Counsel & Sec) sold 700 shares at $33.01 per share price, according to the Form-4 filing with the securities and exchange commission.
CommScope Holding Company Inc. is provider of connectivity and infrastructure solutions for wireless business enterprise and residential broadband networks. The Company provides radio frequency (RF) solutions connectivity and cabling platforms data center and building infrastructure and broadband access solutions. The Company operates through three segments: Wireless Enterprise and Broadband. The Company’s solutions marketed primarily under the Andrew brand enable wireless operators to deploy both macro cell sites and small cell distributed antenna systems (DAS) solutions to meet coverage and capacity requirements. The Company’s enterprise connectivity solutions for data centers and commercial buildings comprises voice video data and converged solutions that support mission-critical applications. The Company provides cable and communications products that support the multichannel video voice and data services provided by multi-system operators (MSOs).