NEW YORK (TheStreet) -- Shares of CommScope (COMM) were jumping 6.11% to $32.11 on heavy trading volume late Thursday afternoon after the company reported better-than-expected earnings for the 2016 third quarter.
Before today's opening bell, the Hickory, NC-based provider of infrastructure solutions posted adjusted earnings of 81 cents per diluted share, topping the FactSet consensus estimate of 72 cents per share.
Revenue for the quarter was $1.29 billion, in line with analysts' projections.
For the fourth quarter, CommScope sees adjusted earnings per diluted share between 54 cents and 59 cents on revenue of $1.14 billion to $1.19 billion. Analysts surveyed by FactSet are looking for earnings of 57 cents per share on revenue of $1.18 billion.
Full-year adjusted earnings per diluted share are forecast to be between $2.57 and $2.62 on revenue of $4.89 billion to $4.94 billion. Wall Street is expecting earnings of $2.52 per share on revenue of $4.92 billion, according to FactSet.
More than 2.72 million of the company's shares changed hands so far today, higher than its average 30-day volume of 1.74 million shares.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and good cash flow from operations.
But the team also finds weaknesses including disappointing return on equity, a generally disappointing performance in the stock itself and generally higher debt management risk.