CommScope Holding Company, Inc. (NASDAQ: COMM – Get a rating) received a consensus recommendation of “Hold” from the thirteen research companies that cover the business, MarketBeat.com reports. Two research analysts rated the stock with a sell rating, five assigned a hold rating and three issued a buy rating on the company. The 12-month average target price among brokerages that have issued ratings on the stock over the past year is $10.00.
Several research analysts have recently commented on COMM stocks. Citigroup lowered its price target on CommScope shares from $8.50 to $6.00 in a Friday, May 6 research note. Bank of America downgraded CommScope shares from a ‘neutral’ to an ‘underperforming’ rating and lowered its price target for the stock from $12.00 to $8.00 in a research note Friday, March 25. Raymond James downgraded CommScope shares from a “market performer” rating to an “underperformer” rating in a Monday, April 11 report. StockNews.com launched coverage on CommScope shares in a research report on Thursday, March 31. They set a “holding” rating for the company. Finally, 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.
In other CommScope news, CFO Kyle David Lorentzen purchased 17,887 shares of CommScope in a trade 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 completion of the acquisition, the CFO now directly owns 209,398 shares of the company, valued at approximately $1,698,217.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, CEO Charles L. Treadway purchased 59,927 shares of the company in a transaction dated Thursday, June 2. The stock was purchased at an average cost of $8.34 per share, with a total value of $499,791.18. Following the completion of the acquisition, the CEO now directly owns 1,212,302 shares of the company, valued at $10,110,598.68. Disclosure of this purchase can be found here. Insiders acquired a total of 87,814 shares of the company worth $714,555 during the last quarter. Company insiders hold 2.40% of the company’s shares.
Several hedge funds and other institutional investors have been buying and selling stocks recently. Counterpoint Mutual Funds LLC bought a new position in CommScope in Q4 worth approximately $28,000. Neo Ivy Capital Management bought a new stake in CommScope in Q4 worth approximately $35,000. Acadian Asset Management LLC purchased a new stake in CommScope in Q1 valued at approximately $51,000. National Bank of Canada FI increased its position in CommScope by 25.9% in the 1st quarter. National Bank of Canada FI now owns 7,082 shares of the communications equipment provider worth $56,000 after purchasing an additional 1,455 shares during the period. Finally, Future Financial Wealth Management LLC bought a new position in CommScope in Q4 worth around $70,000. 92.71% of the shares are currently held by institutional investors.
Shares of COMMUNICATION opened at $6.99 on Tuesday. The company has a market capitalization of $1.45 billion, a PE ratio of -2.54, a growth price-earnings ratio of 0.18 and a beta of 1.67. The company’s 50-day moving average is $7.02 and its 200-day moving average is $8.56. CommScope has a 12-month low of $5.94 and a 12-month high of $22.18.
CommScope (NASDAQ: COMM – Get a rating) last reported results on Thursday, May 5. The communications equipment provider reported EPS of $0.20 for the quarter, beating analyst consensus estimates of $0.15 by $0.05. The company posted revenue of $2.23 billion in the quarter, versus a consensus estimate of $2.07 billion. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The company’s revenue increased by 7.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.27. On average, equity research analysts expect CommScope to post 1.35 EPS for the current year.
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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