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CommScope (COMM) Moves 5.5% Higher: Will This Strength Last?
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CommScope (COMM - Free Report) shares soared 5.5% in the last trading session to close at $8.66. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.4% loss over the past four weeks.
The rally was driven by increased investor optimism as the company benefits from industry tailwinds such as 5G and mobile network densification, indoor coverage and expansion of optical fiber networks. CommScope focuses on reducing operational costs and optimizing the overall cost structure while developing solutions to support the wireline and wireless network convergence.
This wireless and broadband network technology company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of -36.1%. Revenues are expected to be $2.1 billion, up 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CommScope, the consensus EPS estimate for the quarter has been revised 11% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on COMM going forward to see if this recent jump can turn into more strength down the road.
CommScope belongs to the Zacks Communication - Infrastructure industry. Another stock from the same industry, Adtran (ADTN - Free Report) , closed the last trading session 1.2% lower at $19.65. Over the past month, ADTN has returned -3.8%.
For Adtran, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of -61.5% from what the company reported a year ago. Adtran currently has a Zacks Rank of #3 (Hold).
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CommScope (COMM) Moves 5.5% Higher: Will This Strength Last?
CommScope (COMM - Free Report) shares soared 5.5% in the last trading session to close at $8.66. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.4% loss over the past four weeks.
The rally was driven by increased investor optimism as the company benefits from industry tailwinds such as 5G and mobile network densification, indoor coverage and expansion of optical fiber networks. CommScope focuses on reducing operational costs and optimizing the overall cost structure while developing solutions to support the wireline and wireless network convergence.
This wireless and broadband network technology company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of -36.1%. Revenues are expected to be $2.1 billion, up 1.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CommScope, the consensus EPS estimate for the quarter has been revised 11% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on COMM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CommScope belongs to the Zacks Communication - Infrastructure industry. Another stock from the same industry, Adtran (ADTN - Free Report) , closed the last trading session 1.2% lower at $19.65. Over the past month, ADTN has returned -3.8%.
For Adtran, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of -61.5% from what the company reported a year ago. Adtran currently has a Zacks Rank of #3 (Hold).