CommScope (NASDAQ:COMM) Shares Down 5.1% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) fell 5.1% during mid-day trading on Wednesday . The company traded as low as $4.30 and last traded at $4.30. 1,606,160 shares were traded during trading, a decline of 61% from the average session volume of 4,166,371 shares. The stock had previously closed at $4.53.

Analyst Ratings Changes

Several equities research analysts have weighed in on COMM shares. Morgan Stanley increased their target price on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Northland Securities increased their price target on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, CommScope currently has an average rating of “Hold” and an average price target of $2.50.

CommScope Stock Up 6.8 %

The firm has a market capitalization of $1.01 billion, a P/E ratio of -1.07, a P/E/G ratio of 0.20 and a beta of 2.09. The stock has a fifty day moving average of $5.80 and a 200-day moving average of $3.43.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data 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). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. Sell-side analysts predict that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently modified their holdings of COMM. Geode Capital Management LLC increased its position in shares of CommScope by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after purchasing an additional 155,166 shares during the last quarter. Millennium Management LLC increased its holdings in CommScope by 19.9% during the second 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 last quarter. Jacobs Levy Equity Management Inc. raised its position in CommScope by 10.9% during 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 acquiring an additional 461,264 shares in the last quarter. State Street Corp lifted its stake in CommScope by 9.2% in 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 acquiring an additional 387,466 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of CommScope by 29.3% in the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after purchasing an additional 975,200 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.