Morgan Stanley Reiterates Hold Rating for Commscope (COMM)

Commscope (NASDAQ:COMM)‘s stock had its “hold” rating reissued by research analysts at Morgan Stanley in a report issued on Friday, The Fly reports. They currently have a $23.00 target price on the communications equipment provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 18.62% from the stock’s current price. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Commscope from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. ValuEngine raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Northland Securities set a $36.00 price target on shares of Commscope and gave the company a “buy” rating in a research report on Thursday, August 2nd. BidaskClub cut shares of Commscope from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Finally, Jefferies Financial Group cut shares of Commscope from a “buy” rating to a “hold” rating and dropped their price target for the company from $35.00 to $30.50 in a research report on Monday, August 6th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Commscope presently has a consensus rating of “Hold” and a consensus target price of $33.79.

Shares of COMM opened at $19.39 on Friday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.07 and a beta of 1.23. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. Commscope has a twelve month low of $18.52 and a twelve month high of $41.60.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Commscope had a net margin of 4.69% and a return on equity of 23.90%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 EPS. As a group, equities research analysts forecast that Commscope will post 2.23 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in Commscope by 5.3% in the 1st quarter. Royal Bank of Canada now owns 35,460 shares of the communications equipment provider’s stock worth $1,418,000 after purchasing an additional 1,782 shares in the last quarter. DnB Asset Management AS raised its holdings in Commscope by 11.6% in the 2nd quarter. DnB Asset Management AS now owns 17,262 shares of the communications equipment provider’s stock worth $504,000 after purchasing an additional 1,800 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Commscope by 12.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,944 shares of the communications equipment provider’s stock worth $495,000 after purchasing an additional 1,924 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Commscope by 7.6% in the 1st quarter. Guggenheim Capital LLC now owns 34,883 shares of the communications equipment provider’s stock worth $1,394,000 after purchasing an additional 2,463 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its holdings in Commscope by 3.1% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 99,090 shares of the communications equipment provider’s stock worth $3,048,000 after purchasing an additional 2,960 shares in the last quarter.

About Commscope

CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.

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