CommScope Holding Company, Inc. (NASDAQ:COMM) Given Average Recommendation of “Reduce” by Brokerages

CommScope Holding Company, Inc. (NASDAQ:COMM) has received a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $1.67.

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. StockNews.com cut shares of CommScope from a “hold” rating to a “sell” rating in a research note on Wednesday.

CommScope Trading Up 2.5 %

NASDAQ:COMM opened at $2.86 on Friday. CommScope has a 1 year low of $0.86 and a 1 year high of $3.97. The firm has a 50 day moving average of $1.62 and a 200-day moving average of $1.51. The stock has a market capitalization of $607.11 million, a P/E ratio of -0.32, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM) last posted its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.14 EPS. The business’s revenue was down 12.7% on a year-over-year basis. As a group, analysts forecast that CommScope will post 0.11 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently modified their holdings of COMM. First Trust Advisors LP increased its holdings in shares of CommScope by 42.7% in the fourth quarter. First Trust Advisors LP now owns 13,071,560 shares of the communications equipment provider’s stock valued at $36,862,000 after purchasing an additional 3,911,673 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CommScope by 28.4% during 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 acquiring an additional 1,280,636 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of 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 valued at $4,403,000 after acquiring an additional 1,068,969 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of CommScope by 319.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock valued at $1,537,000 after acquiring an additional 953,171 shares during the last quarter. Finally, Highland Peak Capital LLC bought a new stake in shares of CommScope during the 2nd quarter valued at $689,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.