Shares of CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) earned a consensus rating of “Hold” from the thirteen brokerages that currently cover the business, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned the company a buy recommendation. The 12-month average price target among analysts who have updated their coverage of the stock in the past year is $10.00.
COMM has been the subject of a number of recent research reports. Morgan Stanley cut its price target on CommScope shares from $14.00 to $9.00 and set an “overweight” rating for the company in a Tuesday, April 12 research report. Bank of America downgraded CommScope from a “neutral” rating to an “underperforming” rating and lowered its target price for the stock from $12.00 to $8.00 in a Friday, March 25 research report . Raymond James downgraded CommScope from a “market performing” rating to an “underperforming” rating in a Monday, April 11 research note. Deutsche Bank Aktiengesellschaft lowered its price target on CommScope from $14.00 to $9.00 and placed a “buy” rating on the stock in a Wednesday, April 13 report. To finish, StockNews.com began coverage on CommScope in a research note on Thursday, March 31. They issued a “hold” rating on the stock.
COMM shares opened at $6.99 on Tuesday. The stock has a market capitalization of $1.45 billion, a price/earnings ratio of -2.54, a P/E/G ratio of 0.18 and a beta of 1.67. The company has a fifty-day moving average of $7.02 and a 200-day moving average of $8.56. CommScope has a 52-week low of $5.94 and a 52-week high of $22.18.
CommScope (NASDAQ:COMM – Get a rating) last announced its quarterly results on Thursday, May 5. The communications equipment provider reported earnings per share of $0.20 for the quarter, beating consensus analyst estimates of $0.15 by $0.05. The company posted revenue of $2.23 billion for the quarter, versus a consensus estimate of $2.07 billion. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. CommScope revenue for the quarter increased 7.6% year over year. During the same period last year, the company posted EPS of $0.27. On average, research analysts expect CommScope to post 1.35 EPS for the current year.
In related news, CFO Kyle David Lorentzen acquired 17,887 shares in a transaction dated Friday, June 3. The stock was purchased at an average cost of $8.11 per share, with a total value of $145,063.57. Following the purchase, the CFO now directly owns 209,398 shares of the company, valued at $1,698,217.78. The transaction was disclosed in an SEC filing, which is available via this link. Additionally, SVP Farid Firouzbakht purchased 10,000 shares of the company in a transaction that took place on Wednesday, May 11. The shares were acquired at an average cost of $6.97 per share, with a total value of $69,700.00. Following completion of the transaction, the Senior Vice President now owns 149,824 shares of the company, valued at approximately $1,044,273.28. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 87,814 shares of the company worth $714,555. Company insiders hold 2.40% of the company’s shares.
A number of large investors have recently changed their stock holdings. Counterpoint Mutual Funds LLC acquired a new stake in CommScope in Q4 for approximately $28,000. Neo Ivy Capital Management bought a new position in CommScope during Q4 worth approximately $35,000. National Bank of Canada FI bought a new position in CommScope stock in the fourth quarter worth approximately $62,000. Future Financial Wealth Management LLC acquired a new position in CommScope during the fourth quarter worth approximately $70,000. Finally, Acadian Asset Management LLC bought a new position in CommScope in the first quarter worth approximately $51,000. Hedge funds and other institutional investors hold 92.71% of the company’s shares.
CommScope Company Profile (Get a rating)
CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Site and Campus Networks (VCN) and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products and hardened closures to the broadband market of telecommunications operators and cable companies.
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