CommScope Holding Company, Inc. (NASDAQ:COMM) Given Average Rating of “Reduce” by Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have received a consensus recommendation of “Reduce” from the six research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $1.75.

Several analysts recently weighed in on the company. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Northland Securities raised their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after purchasing an additional 25,212 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of CommScope by 15.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after acquiring an additional 24,523 shares in the last quarter. Quadrature Capital Ltd bought a new stake in CommScope during the 4th quarter worth $198,000. Susquehanna Fundamental Investments LLC bought a new position in CommScope in the first quarter valued at about $369,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of CommScope by 31.9% during the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock valued at $595,000 after purchasing an additional 109,753 shares in the last quarter. 88.04% of the stock is owned by institutional investors.

CommScope Trading Down 1.6 %

COMM stock opened at $5.65 on Friday. The business’s 50 day simple moving average is $5.02 and its 200 day simple moving average is $2.63. CommScope has a 1-year low of $0.86 and a 1-year high of $6.75. The firm has a market capitalization of $1.20 billion, a PE ratio of -0.64, a PEG ratio of 0.28 and a beta of 2.10.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. CommScope’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, sell-side analysts predict that CommScope will post 0.91 EPS for the current fiscal year.

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.