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

CommScope Holding Company, Inc. (NASDAQ:COMM) has earned an average recommendation of “Strong Sell” from the five research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $2.50.

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

CommScope Stock Down 1.0 %

CommScope stock opened at $5.21 on Wednesday. The stock has a market cap of $1.12 billion, a PE ratio of -1.18 and a beta of 1.96. CommScope has a 12-month low of $0.86 and a 12-month high of $7.19. The business’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $4.26.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) 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 the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. As a group, analysts expect that CommScope will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Several large investors have recently modified their holdings of COMM. Future Financial Wealth Managment LLC acquired a new stake in CommScope in the third quarter valued at $31,000. National Bank of Canada FI increased its stake in shares of CommScope by 109.1% in 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 during the period. Quarry LP raised its position in shares of CommScope by 1,005.4% during 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 during the last quarter. Belvedere Trading LLC acquired a new position in shares of CommScope in the third quarter worth approximately $68,000. Finally, Creative Planning bought a new stake in CommScope in the third quarter valued at approximately $73,000. Institutional investors 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.