CommScope (NASDAQ:COMM) Downgraded to Underperform Rating by Raymond James

CommScope (NASDAQ:COMM) was downgraded by investment analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued on Monday,Finviz reports.

Separately, Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.50.

CommScope Price Performance

Shares of NASDAQ COMM opened at $5.27 on Monday. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The business has a fifty day moving average price of $5.41 and a 200 day moving average price of $4.35. The stock has a market capitalization of $1.14 billion, a P/E ratio of -1.19 and a beta of 1.92.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that CommScope will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of CommScope

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of CommScope by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock valued at $1,469,000 after purchasing an additional 87,530 shares in the last quarter. Rhumbline Advisers raised its position in CommScope by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock valued at $427,000 after purchasing an additional 65,605 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of CommScope by 319.3% during the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares in the last quarter. Headlands Technologies LLC increased its stake in CommScope by 350.5% in the second quarter. Headlands Technologies LLC now owns 107,915 shares of the communications equipment provider’s stock valued at $133,000 after purchasing an additional 83,962 shares during the last quarter. Finally, Fore Capital LLC grew its holdings in shares of CommScope by 36.5% during the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock worth $92,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.