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

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.10.

Several equities research analysts have recently commented on the stock. Bank of America downgraded shares of CommScope from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $15.00 in a research report on Thursday, September 23rd. Morgan Stanley boosted their target price on shares of CommScope from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of CommScope from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $12.00 in a research report on Tuesday, October 5th.

Shares of COMM traded up $0.29 during mid-day trading on Thursday, hitting $12.00. 54,979 shares of the company’s stock were exchanged, compared to its average volume of 3,578,443. CommScope has a 52 week low of $8.39 and a 52 week high of $22.18. The stock’s 50-day simple moving average is $14.49 and its 200-day simple moving average is $17.50. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -5.97, a price-to-earnings-growth ratio of 0.38 and a beta of 1.82. The company has a quick ratio of 1.12, a current ratio of 1.67 and a debt-to-equity ratio of 137.66.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, August 5th. The communications equipment provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.17 billion. CommScope had a positive return on equity of 192.26% and a negative net margin of 4.02%. CommScope’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Analysts forecast that CommScope will post 1.36 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Boston Partners boosted its stake in CommScope by 394.2% in the second quarter. Boston Partners now owns 6,478,230 shares of the communications equipment provider’s stock valued at $138,106,000 after acquiring an additional 5,167,373 shares during the last quarter. Newbrook Capital Advisors LP purchased a new position in CommScope in the second quarter valued at about $38,916,000. Goldentree Asset Management LP boosted its stake in CommScope by 61.4% in the second quarter. Goldentree Asset Management LP now owns 4,323,557 shares of the communications equipment provider’s stock valued at $92,135,000 after acquiring an additional 1,644,898 shares during the last quarter. Wolf Hill Capital Management LP purchased a new position in CommScope in the second quarter valued at about $32,459,000. Finally, Nuveen Asset Management LLC boosted its stake in CommScope by 21.6% in the first quarter. Nuveen Asset Management LLC now owns 8,539,392 shares of the communications equipment provider’s stock valued at $131,165,000 after acquiring an additional 1,519,018 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

About CommScope

CommScope Holding Co, Inc engages in the provision of infrastructure solutions for communications networks. It operates through the following segments: Broadband; Home; Outdoor Wireless Networks (OWN); and Venue and Campus Networks(VCN). The company was founded by Frank M. Drendel in 1976 and is headquartered in Hickory, NC.

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Analyst Recommendations for CommScope (NASDAQ:COMM)

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