CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Consensus Price Target from Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been given an average rating of “Strong Sell” by the five brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $2.50.

Separately, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, December 17th.

CommScope Stock Up 2.1 %

CommScope stock opened at $5.27 on Wednesday. The firm has a market capitalization of $1.14 billion, a PE ratio of -1.19 and a beta of 1.96. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The firm’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $4.30.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that CommScope will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in CommScope by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 1,194,041 shares of the communications equipment provider’s stock valued at $1,469,000 after buying an additional 87,530 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of CommScope by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock valued at $427,000 after acquiring an additional 65,605 shares in the last quarter. Acadian Asset Management LLC boosted its position in CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares during the period. Headlands Technologies LLC increased its holdings in CommScope by 350.5% in the 2nd quarter. Headlands Technologies LLC now owns 107,915 shares of the communications equipment provider’s stock valued at $133,000 after purchasing an additional 83,962 shares in the last quarter. Finally, Fore Capital LLC raised its position in CommScope by 36.5% in the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock valued at $92,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds 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.