Zacks Investment Research Lowers Communications Systems (NASDAQ:JCS) to Sell

Communications Systems (NASDAQ:JCS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “

Separately, Northland Securities increased their price target on Communications Systems from $8.00 to $12.00 in a research report on Wednesday, March 3rd.

NASDAQ JCS opened at $6.58 on Wednesday. The stock’s fifty day moving average price is $6.14 and its 200 day moving average price is $5.16. Communications Systems has a 1 year low of $3.70 and a 1 year high of $11.45. The company has a market cap of $61.38 million, a price-to-earnings ratio of 41.13 and a beta of 1.09.

Communications Systems (NASDAQ:JCS) last announced its quarterly earnings results on Monday, March 29th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.11). The company had revenue of $11.68 million for the quarter, compared to analyst estimates of $13.30 million. Communications Systems had a negative return on equity of 1.47% and a net margin of 3.35%. As a group, sell-side analysts predict that Communications Systems will post -0.08 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. HighPoint Advisor Group LLC acquired a new stake in shares of Communications Systems during the 1st quarter valued at about $162,000. Punch & Associates Investment Management Inc. grew its position in shares of Communications Systems by 35.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 490,491 shares of the communications equipment provider’s stock valued at $2,242,000 after acquiring an additional 127,135 shares during the period. Renaissance Technologies LLC grew its position in shares of Communications Systems by 0.3% during the 4th quarter. Renaissance Technologies LLC now owns 682,714 shares of the communications equipment provider’s stock valued at $3,120,000 after acquiring an additional 1,737 shares during the period. Gabelli Funds LLC grew its position in shares of Communications Systems by 1.3% during the 4th quarter. Gabelli Funds LLC now owns 312,000 shares of the communications equipment provider’s stock valued at $1,426,000 after acquiring an additional 4,000 shares during the period. Finally, Fosun International Ltd grew its position in shares of Communications Systems by 7.8% during the 4th quarter. Fosun International Ltd now owns 68,975 shares of the communications equipment provider’s stock valued at $308,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

About Communications Systems

Communications Systems, Inc, through its subsidiaries, provides connectivity infrastructure products and services for deployments of broadband networks worldwide. It operates through two segments, Electronics & Software and Services & Support. The Electronics & Software segment designs, develops, and sells Intelligent Edge solutions that provide connectivity and power through Power over Ethernet products and actionable intelligence to end devices in an Internet of Things ecosystem through embedded and cloud-based management software.

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