CommScope (NASDAQ:COMM) Lowered to “Underweight” Rating by Morgan Stanley

CommScope (NASDAQ:COMM) was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $5.00 price target on the communications equipment provider’s stock. Morgan Stanley’s target price points to a potential downside of 18.43% from the stock’s current price.

CommScope Stock Up 9.3 %

CommScope stock opened at $6.13 on Tuesday. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19. The company’s 50-day moving average price is $5.53 and its 200-day moving average price is $3.99. The company has a market cap of $1.32 billion, a PE ratio of -1.39 and a beta of 1.95.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion for 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts expect that CommScope will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in CommScope by 66.5% during the 2nd quarter. SG Americas Securities LLC now owns 89,782 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 35,846 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of CommScope by 10.4% during the second quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 12,017 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $1,469,000 after buying an additional 87,530 shares during the period. Rhumbline Advisers lifted its stake in shares of CommScope by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock worth $427,000 after acquiring an additional 65,605 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after acquiring an additional 953,171 shares during the period. 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.