CommScope (NASDAQ:COMM) Shares Down 3.5% – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price was down 3.5% during trading on Friday . The stock traded as low as $5.69 and last traded at $5.66. Approximately 142,159 shares traded hands during trading, a decline of 96% from the average daily volume of 3,684,369 shares. The stock had previously closed at $5.86.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COMM. Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Tuesday, December 17th. Raymond James lowered shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

CommScope Trading Down 4.5 %

The business has a fifty day moving average price of $5.26 and a 200-day moving average price of $4.71. The stock has a market capitalization of $1.21 billion, a PE ratio of -1.27, a PEG ratio of 0.67 and a beta of 1.92.

CommScope (NASDAQ:COMM) last posted its quarterly 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 return on equity of 1.01% and a negative net margin of 18.10%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that CommScope Holding Company, Inc. will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CommScope

Several hedge funds have recently made changes to their positions in COMM. National Bank of Canada FI increased its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,857 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in CommScope by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider’s stock valued at $106,000 after buying an additional 4,466 shares during the last quarter. Diversified Trust Co raised its position in CommScope by 11.1% in the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after acquiring an additional 4,827 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of CommScope during the 3rd quarter valued at $31,000. Finally, Quarry LP increased its stake in shares of CommScope by 1,005.4% in the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.

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.