CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Average Recommendation of “Reduce” from Analysts

CommScope Holding Company, Inc. (NASDAQ:COMM) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $1.75.

A number of analysts have commented on the stock. Northland Securities boosted their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its position in shares of CommScope by 42.7% during the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock worth $36,862,000 after purchasing an additional 3,911,673 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CommScope by 28.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock worth $16,330,000 after purchasing an additional 1,280,636 shares in the last quarter. Millennium Management LLC raised its holdings in CommScope by 19.9% during the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after buying an additional 840,742 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings 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 buying an additional 461,264 shares during the period. Finally, Marathon Asset Management LP boosted its holdings in shares of CommScope by 75.0% in the second quarter. Marathon Asset Management LP now owns 1,750,000 shares of the communications equipment provider’s stock worth $2,152,000 after buying an additional 750,000 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Trading Down 1.8 %

Shares of NASDAQ:COMM opened at $3.86 on Thursday. The firm’s 50 day moving average is $2.54 and its two-hundred day moving average is $1.72. The firm has a market capitalization of $819.39 million, a P/E ratio of -0.44, a PEG ratio of 0.17 and a beta of 2.08. CommScope has a 52 week low of $0.86 and a 52 week high of $4.50.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The company’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. Analysts predict that CommScope will post 0.91 EPS for the current year.

CommScope Company Profile

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.