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

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) have received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.89.

Several analysts recently issued reports on the company. Bank of America cut CommScope from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $12.00 to $8.00 in a research report on Friday, March 25th. Zacks Investment Research upgraded CommScope from a “strong sell” rating to a “hold” rating and set a $14.00 price target for the company in a report on Wednesday, January 5th. JPMorgan Chase & Co. cut their price target on CommScope from $13.00 to $11.00 in a report on Thursday, January 20th. Raymond James cut CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, April 11th. Finally, Morgan Stanley cut their price target on CommScope from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, April 12th.

In related news, Director Derrick A. Roman bought 7,500 shares of the stock in a transaction dated Friday, February 25th. The stock was purchased at an average cost of $9.96 per share, with a total value of $74,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Claudius E. Iv Watts purchased 6,000 shares of the business’s stock in a transaction dated Friday, March 4th. The stock was bought at an average price of $8.87 per share, for a total transaction of $53,220.00. The disclosure for this purchase can be found here. Insiders bought a total of 28,500 shares of company stock valued at $251,500 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Chartwell Investment Partners LLC grew its holdings in shares of CommScope by 112.7% in the third quarter. Chartwell Investment Partners LLC now owns 144,949 shares of the communications equipment provider’s stock worth $1,970,000 after purchasing an additional 76,816 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in CommScope by 64.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,147 shares of the communications equipment provider’s stock worth $3,203,000 after acquiring an additional 113,565 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in CommScope by 37.9% during the 4th quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider’s stock worth $221,000 after acquiring an additional 5,500 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in CommScope by 5.9% during the 3rd quarter. Goldman Sachs Group Inc. now owns 772,754 shares of the communications equipment provider’s stock worth $10,502,000 after acquiring an additional 43,235 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in CommScope by 128.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 281,951 shares of the communications equipment provider’s stock worth $3,113,000 after acquiring an additional 158,634 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

NASDAQ:COMM opened at $6.03 on Monday. CommScope has a 12-month low of $6.00 and a 12-month high of $22.18. The stock has a 50-day moving average price of $7.66 and a 200 day moving average price of $9.42. The stock has a market capitalization of $1.23 billion, a P/E ratio of -2.36, a P/E/G ratio of 0.17 and a beta of 1.65.

CommScope (NASDAQ:COMM – Get Rating) last released its earnings results on Thursday, February 17th. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.13. CommScope had a positive return on equity of 3,196.61% and a negative net margin of 5.39%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the business posted $0.49 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Research analysts predict that CommScope will post 1.33 EPS for the current year.

About CommScope (Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

Featured Stories