CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Consensus Price Target from Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have earned an average rating of “Strong Sell” from the five brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.50.

Separately, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Tuesday, December 17th.

Institutional Investors Weigh In On CommScope

Several hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in CommScope during the 3rd quarter valued at $31,000. National Bank of Canada FI grew its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after buying an additional 2,857 shares in the last quarter. Quarry LP raised 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 valued at $50,000 after buying an additional 7,380 shares during the period. Belvedere Trading LLC purchased a new stake in CommScope in the 3rd quarter worth about $68,000. Finally, Creative Planning acquired a new stake in CommScope during the 3rd quarter worth about $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Trading Up 2.1 %

Shares of NASDAQ COMM opened at $5.27 on Wednesday. The firm has a 50-day moving average of $5.41 and a two-hundred day moving average of $4.33. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -1.19 and a beta of 1.92. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19.

CommScope (NASDAQ:COMM) last released its 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, research analysts predict that CommScope will post -0.77 earnings per share for the current year.

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.