CommScope (NASDAQ:COMM) Shares Down 3.1% – Here’s Why

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) were down 3.1% during trading on Friday . The stock traded as low as $4.91 and last traded at $4.92. Approximately 514,205 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,172,819 shares. The stock had previously closed at $5.08.

Analyst Ratings Changes

Several equities research analysts have issued reports on COMM shares. Morgan Stanley boosted their price objective on shares of 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 increased their price objective on CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.50.

CommScope Stock Down 6.1 %

The stock has a market capitalization of $1.03 billion, a P/E ratio of -1.08 and a beta of 2.09. The stock’s 50 day moving average price is $5.70 and its 200-day moving average price is $3.61.

CommScope (NASDAQ:COMM) last announced its quarterly 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations 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 was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. Analysts anticipate that CommScope Holding Company, Inc. will post -0.77 earnings per share for the current year.

Institutional Trading of CommScope

Institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope during the third quarter worth $31,000. National Bank of Canada FI grew its stake in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares during the last quarter. Quarry LP increased its position in CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 7,380 shares in the last quarter. Belvedere Trading LLC purchased a new stake in CommScope in the third quarter valued at about $68,000. Finally, Creative Planning acquired a new stake in CommScope in the third quarter worth about $73,000. 88.04% of the stock is currently owned by institutional investors.

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.