Commscope Holding Company Inc (COMM) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.69. The company posted revenue of $1306.80 million in the period, 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.
Many Wall Street Analysts have commented on Commscope Holding Company Inc. Credit Agricole Initiated Commscope Holding Company Inc on Jun 16, 2016 to “Buy”, Price Target of the shares are set at $40.Commscope Holding Company Inc was Upgraded by Goldman to ” Buy” on May 9, 2016.
Commscope Holding Company Inc closed down -1.84 points or -5.78% at $29.98 with 54,69,502 shares getting traded on Thursday. Post opening the session at $30.5, the shares hit an intraday low of $28.84 and an intraday high of $31.63 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 8, 2016, Frank M Drendel (director) sold 7,336 shares at $31.24 per share price. According to the SEC, on Jul 5, 2016, Peter U Karlsson (SVP of CommScope, Inc.) sold 7,796 shares at $31.04 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).