CommScope Holding Company, Inc. (NASDAQ:COMM) Given Consensus Rating of “Reduce” by Brokerages

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned a consensus rating of “Reduce” from the five analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $2.50.

A number of research firms recently weighed in on COMM. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley upped their target price on CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th.

Institutional Trading of CommScope

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in CommScope by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock valued at $31,239,000 after buying an additional 155,166 shares during the last quarter. Millennium Management LLC raised its holdings in shares of CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock valued at $6,242,000 after purchasing an additional 840,742 shares during the last quarter. State Street Corp lifted its position in shares of CommScope by 9.2% during the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after purchasing an additional 387,466 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of CommScope by 29.3% during the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after buying an additional 975,200 shares in the last quarter. Finally, Monarch Alternative Capital LP bought a new stake in CommScope during the third quarter worth $16,623,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Price Performance

Shares of NASDAQ:COMM opened at $5.79 on Friday. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The business’s 50-day moving average is $5.55 and its 200-day moving average is $3.83. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -1.31 and a beta of 1.96.

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

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.