CommScope (NASDAQ:COMM) Downgraded to “Underperform” Rating by Raymond James

CommScope (NASDAQ:COMM) was downgraded by investment analysts at Raymond James from a “market perform” rating to an “underperform” rating in a research note issued on Monday, MarketBeat reports.

Separately, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, December 17th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, CommScope currently has an average rating of “Reduce” and an average target price of $2.50.

CommScope Trading Down 3.9 %

CommScope stock opened at $5.13 on Monday. The stock has a 50 day moving average of $5.35 and a 200-day moving average of $4.40. The stock has a market cap of $1.11 billion, a P/E ratio of -1.16 and a beta of 1.92. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, equities analysts predict that CommScope will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommScope

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co increased its holdings in shares of CommScope by 11.1% in the 4th quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after acquiring an additional 4,827 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock valued at $5,500,000 after purchasing an additional 542,794 shares during the period. Franklin Resources Inc. bought a new stake in shares of CommScope during the third quarter valued at approximately $755,000. Geode Capital Management LLC boosted its position in shares of CommScope by 3.1% during the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after buying an additional 155,166 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in CommScope in the 3rd quarter worth approximately $460,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.