CommScope (NASDAQ:COMM) Shares Gap Down to $13.77

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $13.77, but opened at $13.46. CommScope shares last traded at $13.54, with a volume of 30,886 shares.

A number of equities analysts have commented on COMM shares. Bank of America lowered shares of CommScope from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $15.00 in a report on Thursday. Morgan Stanley boosted their price objective on shares of CommScope from $19.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, July 6th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut their target price on shares of CommScope from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.36.

The company has a quick ratio of 1.12, a current ratio of 1.67 and a debt-to-equity ratio of 137.66. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -6.94, a price-to-earnings-growth ratio of 0.42 and a beta of 1.80. The firm’s 50 day moving average is $16.52 and its two-hundred day moving average is $17.78.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, August 5th. The communications equipment provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). CommScope had a positive return on equity of 192.26% and a negative net margin of 4.02%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company posted $0.32 EPS. CommScope’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts anticipate that CommScope Holding Company, Inc. will post 1.36 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of CommScope by 0.9% in the first quarter. Royal Bank of Canada now owns 85,760 shares of the communications equipment provider’s stock valued at $1,317,000 after acquiring an additional 726 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of CommScope by 1.3% in the first quarter. Arizona State Retirement System now owns 57,826 shares of the communications equipment provider’s stock valued at $888,000 after acquiring an additional 749 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of CommScope by 6.7% in the first quarter. Great West Life Assurance Co. Can now owns 15,050 shares of the communications equipment provider’s stock valued at $229,000 after acquiring an additional 948 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of CommScope by 46.1% in the second quarter. Parkside Financial Bank & Trust now owns 3,247 shares of the communications equipment provider’s stock valued at $69,000 after acquiring an additional 1,024 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of CommScope by 53.2% in the second quarter. US Bancorp DE now owns 3,759 shares of the communications equipment provider’s stock valued at $80,000 after acquiring an additional 1,306 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

About CommScope (NASDAQ:COMM)

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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