Revenue Update on Commscope Holding Company Inc(NASDAQ:COMM)

Commscope Holding Company Inc(NASDAQ:COMM) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.31B. Analysts estimated a revenue of $1.30B. Earnings per share were $0.74. Analysts had estimated an EPS of $0.69.

In a different note, BTIG Research said it Initiates Coverage on Commscope Holding Company Inc, according to a research note issued on Jun 17, 2016. The shares have been rated ‘Buy’ by the firm. On May 9, 2016, Goldman Sachs said it Upgrades its rating on Commscope Holding Company Inc. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Buy’ by the firm.

Commscope Holding Company Inc (COMM) shares turned negative on Thursdays trading session with the shares closing down -0.27 points or -0.93% at a volume of 18,78,266. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.56. The peak price level was also seen at $29.56 while the days lowest was $28.68. Finally the shares closed at $28.76. The 52-week high of the shares is $34.12 while the 52-week low is $19.37. According to the latest information available, the market cap of the company is $5,540 M.

Several Insider Transactions has been reported to the SEC. On Jul 8, 2016, Frank M Drendel (director) sold 7,336 shares at $31.24 per share price.Also, 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).

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