CommScope (NASDAQ:COMM) Rating Lowered to Underperform at Raymond James

Raymond James cut shares of CommScope (NASDAQ:COMM) from a market perform rating to an underperform rating in a research report sent to investors on Monday, MarketBeat Ratings reports.

Separately, Morgan Stanley downgraded CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, CommScope presently has a consensus rating of “Reduce” and an average target price of $2.50.

CommScope Price Performance

COMM stock opened at $5.18 on Monday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -1.17 and a beta of 1.92. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The business has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $4.41.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that CommScope will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in shares of CommScope by 7.9% in the 2nd 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 purchasing an additional 87,530 shares during the last quarter. Rhumbline Advisers boosted its stake in CommScope by 23.3% during the second quarter. Rhumbline Advisers now owns 347,323 shares of the communications equipment provider’s stock worth $427,000 after buying an additional 65,605 shares during the period. Acadian Asset Management LLC boosted its stake in CommScope by 319.3% during the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after buying an additional 953,171 shares during the period. Headlands Technologies LLC increased its position in CommScope by 350.5% during the second quarter. Headlands Technologies LLC now owns 107,915 shares of the communications equipment provider’s stock valued at $133,000 after acquiring an additional 83,962 shares during the last quarter. Finally, Fore Capital LLC raised its stake in shares of 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 acquiring an additional 20,000 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.