CommScope (NASDAQ:COMM) Stock Price Down 5.1% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) dropped 5.1% on Wednesday . The stock traded as low as $4.41 and last traded at $4.44. Approximately 699,641 shares traded hands during trading, a decline of 83% from the average daily volume of 4,166,782 shares. The stock had previously closed at $4.68.

Analyst Ratings Changes

Several research firms have issued reports on COMM. Deutsche Bank Aktiengesellschaft boosted their price target on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Morgan Stanley boosted their price objective on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Northland Securities lifted their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, CommScope currently has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Price Performance

The firm has a 50-day moving average of $5.84 and a 200-day moving average of $3.30. The stock has a market cap of $958.50 million, a PE ratio of -1.00, a PEG ratio of 0.21 and a beta of 2.09.

CommScope (NASDAQ:COMM) last released its quarterly earnings data 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COMM. The Manufacturers Life Insurance Company increased its holdings in shares of CommScope by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 4,466 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in CommScope during the third quarter valued at $31,000. Belvedere Trading LLC bought a new position in CommScope during the third quarter valued at $68,000. Creative Planning purchased a new position in shares of CommScope in the 3rd quarter worth $73,000. Finally, SummerHaven Investment Management LLC increased its holdings in shares of CommScope by 10.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 128,079 shares of the communications equipment provider’s stock worth $158,000 after buying an additional 12,017 shares during the last quarter. 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.