CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Consensus PT from Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have received an average rating of “Reduce” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.50.

Several equities research analysts recently issued reports on COMM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Northland Securities raised their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Morgan Stanley upped their price objective on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th.

CommScope Price Performance

COMM stock opened at $4.44 on Tuesday. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The stock has a market capitalization of $958.50 million, a P/E ratio of -1.04, a P/E/G ratio of 0.21 and a beta of 2.09. The business has a fifty day moving average price of $5.84 and a 200-day moving average price of $3.30.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $0.10 EPS. CommScope’s revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that CommScope will post 0.91 earnings per share for the current year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after acquiring an additional 840,742 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of CommScope by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock worth $6,128,000 after purchasing an additional 461,264 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of CommScope during the 3rd quarter valued at $11,023,000. Marathon Asset Management LP lifted its stake in shares of CommScope by 75.0% during the 2nd quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock valued at $2,152,000 after buying an additional 750,000 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in CommScope by 319.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after buying an additional 953,171 shares during the period. 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.