Shares of Commscope Holding Company Inc (NASDAQ:COMM) were down 4.4% during mid-day trading on Thursday . The stock traded as low as $10.66 and last traded at $10.25, approximately 2,445,326 shares changed hands during mid-day trading. A decline of 38% from the average daily volume of 3,933,881 shares. The stock had previously closed at $10.72.
Several equities analysts recently issued reports on COMM shares. Bank of America dropped their target price on shares of Commscope from $26.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Northland Securities restated a “buy” rating and issued a $22.50 target price on shares of Commscope in a report on Friday, August 9th. Nomura dropped their target price on shares of Commscope from $24.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Deutsche Bank set a $28.00 price target on shares of Commscope and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Commscope in a research note on Monday, April 22nd. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.77.
The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 4.28. The stock has a market capitalization of $2.01 billion, a P/E ratio of 4.91, a P/E/G ratio of 0.33 and a beta of 1.43. The firm’s 50 day simple moving average is $14.43 and its two-hundred day simple moving average is $19.44.
Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.16. Commscope had a negative net margin of 5.03% and a positive return on equity of 23.91%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 107.0% compared to the same quarter last year. As a group, equities research analysts expect that Commscope Holding Company Inc will post 1.96 earnings per share for the current year.
In other Commscope news, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction on Monday, June 17th. The shares were sold at an average price of $15.84, for a total value of $1,279,872.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Bruce William Mcclelland bought 3,500 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $18.00 per share, with a total value of $63,000.00. The disclosure for this purchase can be found here. Insiders own 3.25% of the company’s stock.
Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Commscope by 2.3% in the 4th quarter. Bank of America Corp DE now owns 507,080 shares of the communications equipment provider’s stock worth $8,311,000 after purchasing an additional 11,174 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Commscope by 24.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock worth $29,187,000 after purchasing an additional 350,675 shares during the last quarter. Norges Bank bought a new stake in shares of Commscope in the 4th quarter worth approximately $29,617,000. Geode Capital Management LLC lifted its holdings in shares of Commscope by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 2,092,326 shares of the communications equipment provider’s stock worth $34,272,000 after purchasing an additional 153,499 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of Commscope by 413.9% in the 1st quarter. Tributary Capital Management LLC now owns 18,500 shares of the communications equipment provider’s stock worth $402,000 after purchasing an additional 14,900 shares during the last quarter. 97.95% of the stock is owned by institutional investors.
Commscope Company Profile (NASDAQ:COMM)
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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