BidaskClub downgraded shares of Commscope (NASDAQ:COMM) from a sell rating to a strong sell rating in a report released on Friday, BidAskClub reports.
A number of other equities analysts have also recently weighed in on COMM. Raymond James lowered their price target on shares of Commscope from $12.00 to $10.00 and set an outperform rating on the stock in a research note on Thursday, June 25th. Citigroup lowered their price target on shares of Commscope from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Monday, May 18th. Loop Capital began coverage on shares of Commscope in a research note on Tuesday, May 5th. They set a hold rating on the stock. Credit Suisse Group reissued a buy rating and issued a $17.00 price objective on shares of Commscope in a research note on Wednesday, May 20th. Finally, Northland Securities began coverage on shares of Commscope in a research note on Wednesday, June 24th. They issued a buy rating and a $15.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $13.61.
NASDAQ:COMM opened at $8.35 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 16.91. Commscope has a fifty-two week low of $5.50 and a fifty-two week high of $16.32. The stock has a market cap of $1.63 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 3.20 and a beta of 1.57. The firm’s fifty day simple moving average is $9.73 and its 200-day simple moving average is $11.19.
Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 7th. The communications equipment provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. Commscope had a negative net margin of 11.72% and a positive return on equity of 32.68%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 84.9% on a year-over-year basis. Equities analysts anticipate that Commscope will post 0.96 earnings per share for the current year.
A number of large investors have recently modified their holdings of COMM. Amundi Pioneer Asset Management Inc. grew its position in Commscope by 16.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock valued at $2,109,000 after acquiring an additional 13,824 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Commscope in the fourth quarter valued at approximately $166,000. State Street Corp grew its position in Commscope by 1.5% in the fourth quarter. State Street Corp now owns 2,667,976 shares of the communications equipment provider’s stock valued at $37,859,000 after acquiring an additional 38,589 shares in the last quarter. Victory Capital Management Inc. grew its position in Commscope by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 35,961 shares of the communications equipment provider’s stock valued at $510,000 after acquiring an additional 3,189 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Commscope by 14.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,000 shares of the communications equipment provider’s stock valued at $241,000 after acquiring an additional 2,182 shares in the last quarter.
Commscope Company Profile
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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