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

CommScope Holding Company, Inc. (NASDAQ:COMM) has been assigned a consensus rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.75.

COMM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th. Finally, StockNews.com raised CommScope from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Institutional Investors Weigh In On CommScope

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in CommScope by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after acquiring an additional 694,363 shares during the period. Deutsche Bank AG boosted its stake in shares of CommScope by 182.2% in the fourth quarter. Deutsche Bank AG now owns 9,289,013 shares of the communications equipment provider’s stock valued at $48,396,000 after purchasing an additional 5,996,931 shares during the period. Geode Capital Management LLC grew its holdings in shares of CommScope by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider’s stock valued at $26,715,000 after purchasing an additional 14,576 shares in the last quarter. Renaissance Technologies LLC increased its stake in CommScope by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 4,421,300 shares of the communications equipment provider’s stock worth $23,035,000 after buying an additional 421,000 shares during the period. Finally, LMR Partners LLP acquired a new stake in CommScope during the 4th quarter worth approximately $14,328,000. 88.04% of the stock is owned by institutional investors and hedge funds.

CommScope Stock Performance

Shares of CommScope stock opened at $4.75 on Tuesday. The business’s 50 day moving average price is $4.61 and its 200 day moving average price is $5.10. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -1.07, a PEG ratio of 0.41 and a beta of 2.06. CommScope has a one year low of $0.92 and a one year high of $7.19.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted ($0.08) EPS. The company’s revenue was up 23.5% compared to the same quarter last year. On average, analysts predict that CommScope will post -0.24 EPS for the current fiscal year.

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.