CommScope (NASDAQ:COMM) Downgraded by Morgan Stanley to Underweight

Morgan Stanley downgraded shares of CommScope (NASDAQ:COMM) from an equal weight rating to an underweight rating in a report issued on Tuesday, MarketBeat reports. They currently have $5.00 price objective on the communications equipment provider’s stock.

CommScope Trading Down 3.3 %

COMM opened at $5.61 on Tuesday. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The stock has a fifty day moving average price of $5.53 and a 200 day moving average price of $3.97. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -1.27 and a beta of 1.95.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, sell-side analysts forecast that CommScope will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of large investors have recently bought and sold shares of COMM. Future Financial Wealth Managment LLC acquired a new stake in shares of CommScope in the third quarter worth about $31,000. National Bank of Canada FI lifted its holdings in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP boosted its position in CommScope by 1,005.4% during the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the period. Belvedere Trading LLC acquired a new position in CommScope during the third quarter valued at approximately $68,000. Finally, Creative Planning bought a new position in shares of CommScope in the third quarter valued at approximately $73,000. 88.04% of the stock is currently owned by institutional investors.

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.