CommScope (NASDAQ:COMM) Stock Price Down 6% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) fell 6% on Friday . The company traded as low as $5.42 and last traded at $5.48. 973,298 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 4,142,654 shares. The stock had previously closed at $5.83.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Performance

The firm has a market cap of $1.19 billion, a P/E ratio of -1.25 and a beta of 1.95. The stock’s 50-day moving average is $5.50 and its 200 day moving average is $4.19.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in COMM. Monarch Alternative Capital LP acquired a new position in shares of CommScope during the 3rd quarter worth about $16,623,000. Assenagon Asset Management S.A. bought a new stake in shares of CommScope during the 3rd quarter worth approximately $11,023,000. Bank of Montreal Can acquired a new stake in shares of CommScope in the 3rd quarter valued at approximately $7,023,000. Two Sigma Advisers LP grew its stake in shares of CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after buying an additional 975,200 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of CommScope by 319.3% in 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.

CommScope Company Profile

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.