CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Average Recommendation of “Reduce” from Brokerages

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned an average rating of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.50.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of 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 CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Northland Securities raised their target price on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th.

CommScope Price Performance

Shares of NASDAQ:COMM opened at $4.12 on Tuesday. The stock’s 50-day moving average is $5.85 and its 200 day moving average is $3.37. The company has a market cap of $889.42 million, a PE ratio of -0.94, a P/E/G ratio of 0.18 and a beta of 2.09. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Analysts expect that CommScope will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 25,212 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in 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 purchasing an additional 24,523 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in CommScope in the second quarter worth about $144,000. Susquehanna Fundamental Investments LLC bought a new position in shares of CommScope in the first quarter worth approximately $369,000. Finally, BNP Paribas Financial Markets grew its holdings 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 buying an additional 109,753 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.