CommScope (NASDAQ:COMM) Lowered to “Underperform” Rating by Raymond James

Raymond James cut shares of CommScope (NASDAQ:COMM) from a market perform rating to an underperform rating in a research note published on Monday morning, MarketBeat reports.

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. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.50.

CommScope Price Performance

COMM opened at $5.34 on Monday. The firm has a market cap of $1.15 billion, a P/E ratio of -1.21 and a beta of 1.92. The company has a 50 day simple moving average of $5.41 and a two-hundred day simple moving average of $4.35. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19.

CommScope (NASDAQ:COMM) last released its 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 return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that CommScope will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

A number of institutional investors and hedge funds have recently made changes to their positions in COMM. BNP Paribas Financial Markets grew its position in CommScope by 415.0% in the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock worth $1,150,000 after acquiring an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP purchased a new stake in CommScope during the 3rd quarter valued at $16,623,000. XTX Topco Ltd lifted its holdings in shares of CommScope by 263.1% in the 2nd quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock worth $244,000 after acquiring an additional 143,654 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of CommScope in the 2nd quarter worth about $144,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of CommScope during the 3rd quarter worth about $894,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.