CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Average PT from Analysts

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have received a consensus recommendation of “Reduce” from the six brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.50.

Several equities research analysts have recently commented on COMM shares. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Northland Securities increased their target price on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Finally, Morgan Stanley raised their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th.

CommScope Price Performance

NASDAQ COMM opened at $4.44 on Tuesday. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The stock has a market capitalization of $958.50 million, a PE ratio of -1.04, a PEG ratio of 0.21 and a beta of 2.09. The business’s 50-day moving average is $5.84 and its 200 day moving average is $3.30.

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 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%. CommScope’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, equities research analysts anticipate that CommScope will post 0.91 earnings per share for the current year.

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently made changes to their positions in COMM. Allspring Global Investments Holdings LLC boosted its holdings in CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 25,212 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in CommScope by 15.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock worth $248,000 after purchasing an additional 24,523 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in CommScope during the 2nd quarter valued at about $144,000. Susquehanna Fundamental Investments LLC bought a new stake in CommScope during the 1st quarter valued at about $369,000. Finally, BNP Paribas Financial Markets raised its holdings in CommScope by 31.9% in the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock worth $595,000 after buying an additional 109,753 shares during the last quarter. Hedge funds and other 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.