CommScope (NASDAQ:COMM) Shares Down 3.5% – Here’s Why

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price dropped 3.5% during trading on Friday . The stock traded as low as $5.69 and last traded at $5.66. Approximately 142,159 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 3,684,369 shares. The stock had previously closed at $5.86.

Analyst Ratings Changes

COMM has been the topic of a number of research reports. Raymond James cut shares of CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

CommScope Trading Down 5.6 %

The stock has a market cap of $1.19 billion, a P/E ratio of -1.25, a price-to-earnings-growth ratio of 0.67 and a beta of 1.92. The business has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $4.74.

CommScope (NASDAQ:COMM) last released its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The firm 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 business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. As a group, equities analysts expect that CommScope Holding Company, Inc. will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in shares of CommScope during the 3rd quarter worth about $31,000. National Bank of Canada FI raised its stake in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares during the period. Quarry LP boosted its holdings in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 7,380 shares in the last quarter. Ballentine Partners LLC acquired a new stake in CommScope in the fourth quarter valued at approximately $58,000. Finally, Belvedere Trading LLC bought a new stake in shares of CommScope during the third quarter valued at approximately $68,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

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.