Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) PT at $4.02

Shares of CommScope Holding Company, Inc. (NASDAQ:COMMGet Free Report) have received a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.02.

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Bank of America decreased their price target on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a research report on Wednesday, March 13th. Finally, Northland Securities reissued a “market perform” rating on shares of CommScope in a research report on Friday, March 1st.

Read Our Latest Stock Analysis on COMM

Hedge Funds Weigh In On CommScope

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of CommScope by 28.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock valued at $16,330,000 after purchasing an additional 1,280,636 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CommScope by 8.0% in the 3rd quarter. Vanguard Group Inc. now owns 37,076,845 shares of the communications equipment provider’s stock valued at $124,578,000 after purchasing an additional 2,745,209 shares during the last quarter. Bailard Inc. purchased a new position in shares of CommScope in the 4th quarter valued at approximately $269,000. Assenagon Asset Management S.A. raised its position in shares of CommScope by 14.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 970,716 shares of the communications equipment provider’s stock valued at $2,737,000 after purchasing an additional 124,037 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in CommScope by 217.1% during the 4th quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock worth $4,403,000 after buying an additional 1,068,969 shares during the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Trading Up 2.5 %

NASDAQ COMM opened at $1.21 on Friday. The company’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.72. The stock has a market cap of $256.86 million, a PE ratio of -0.14 and a beta of 2.07. CommScope has a 12 month low of $0.86 and a 12 month high of $6.65.

CommScope (NASDAQ:COMMGet Free Report) last issued its earnings results on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.14. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.04 billion. As a group, sell-side analysts forecast that CommScope will post -0.17 earnings per share for the current year.

About CommScope

(Get Free Report

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.

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Analyst Recommendations for CommScope (NASDAQ:COMM)

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