Vistance Networks (NASDAQ:VISN) Shares Gap Up Following Strong Earnings

Key Points

• Shares gapped up (opened $12.75 vs prior close $10.47) after reporting an EPS of $0.34 vs. $0.17 expected and revenue of $471.8M, up 21.6% year‑over‑year.
• The company paid a $10.00 special dividend to shareholders of record on April 17, which was distributed on April 27.
• Analysts have a consensus Hold rating with an average target of $20.50, while the stock trades with a low P/E of 1.36 and a market cap of $2.89B.

Shares of Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $10.47, but opened at $12.75. Vistance Networks shares last traded at $12.7380, with a volume of 10,347,939 shares.

The business services provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.17. Vistance Networks had a negative return on equity of 17.57% and a net margin of 49.17%.The firm had revenue of $471.80 million for the quarter. The business's revenue was up 21.6% on a year-over-year basis.

Vistance Networks Dividend Announcement

The business also recently announced a special dividend, which was paid on Monday, April 27th. Investors of record on Friday, April 17th were given a $10.00 dividend.

Analyst Ratings Changes

VISN has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of Vistance Networks from $24.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. Zacks Research upgraded shares of Vistance Networks from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Evercore initiated coverage on shares of Vistance Networks in a research report on Thursday, February 26th. They set a "hold" rating and a $20.00 price target for the company. Wall Street Zen lowered shares of Vistance Networks from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Weiss Ratings initiated coverage on shares of Vistance Networks in a research report on Wednesday, January 14th. They set a "hold (c)" rating for the company. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.50.

Vistance Networks Price Performance

The business's 50-day moving average price is $17.97. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 1.36, a PEG ratio of 1.78 and a beta of 2.38.

About Vistance Networks

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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