CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Consensus PT from Analysts

CommScope Holding Company, Inc. (NASDAQ:COMM) has received an average recommendation of “Reduce” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.50.

Several research firms recently commented on COMM. Morgan Stanley raised their target price on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Northland Securities lifted their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th.

CommScope Stock Down 0.9 %

COMM opened at $5.26 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -1.19 and a beta of 1.96. CommScope has a fifty-two week low of $0.86 and a fifty-two week high of $7.19. The company’s 50-day moving average price is $5.57 and its 200 day moving average price is $3.79.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. Research analysts anticipate that CommScope will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in CommScope in the 3rd quarter worth about $31,000. National Bank of Canada FI lifted its stake in 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 buying an additional 2,857 shares in the last quarter. Quarry LP boosted its holdings in shares of CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares during the period. Belvedere Trading LLC purchased a new position in shares of CommScope in the third quarter worth approximately $68,000. Finally, Creative Planning acquired a new stake in shares of CommScope during the third quarter valued at approximately $73,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.