StockNews.com Lowers CommScope (NASDAQ:COMM) to Sell

StockNews.com lowered shares of CommScope (NASDAQ:COMM) from a hold rating to a sell rating in a report released on Wednesday.

Separately, Deutsche Bank Aktiengesellschaft lifted their price target on CommScope from $1.25 to $2.00 and gave the stock a hold rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $1.67.

CommScope Stock Performance

NASDAQ:COMM opened at $2.86 on Wednesday. CommScope has a one year low of $0.86 and a one year high of $3.97. The business’s 50-day simple moving average is $1.62 and its 200 day simple moving average is $1.51. The stock has a market cap of $607.11 million, a price-to-earnings ratio of -0.32, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. CommScope had a negative net margin of 30.88% and a negative return on equity of 1.75%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts predict that CommScope will post 0.11 EPS for the current year.

Hedge Funds Weigh In On CommScope

A number of large investors have recently bought and sold shares of COMM. SG Americas Securities LLC boosted its holdings in shares of CommScope by 76.4% during the fourth quarter. SG Americas Securities LLC now owns 50,480 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 21,869 shares during the period. International Assets Investment Management LLC boosted its stake in CommScope by 264.9% during the 4th quarter. International Assets Investment Management LLC now owns 172,161 shares of the communications equipment provider’s stock valued at $485,000 after purchasing an additional 124,986 shares during the period. Mackenzie Financial Corp grew its position in CommScope by 55.3% in the 4th quarter. Mackenzie Financial Corp now owns 19,514 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 6,949 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CommScope by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,460 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 18,188 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of CommScope by 49,546.9% during the fourth quarter. Federated Hermes Inc. now owns 381,785 shares of the communications equipment provider’s stock valued at $1,077,000 after buying an additional 381,016 shares during the last quarter. 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.