A key reason for this move has been the positive trend in the earnings estimate revisions picture. For COMM’s full year estimate, we have seen 3 estimates go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from $1.55 cents a share a month ago to its current level at $1.63.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, COMM has seen some pretty solid trading lately, as the company has moved higher by 35.1% in the past month.
If CommScope can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put COMM on your watch list for the future.
Other top-ranked stocks worth considering in this space include ADTRAN Inc. (ADTN), Crown Castle International Corp. (CCI), and Telecity Group plc (TLEIY). Crown Castle International carries a Zacks Rank #1 (Strong Buy) while ADTRAN and Telecity Group carry a Zacks Rank #2 (Buy).
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