CommScope (NASDAQ:COMM) Shares Down 3.1% – What’s Next?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares fell 3.1% during mid-day trading on Friday . The company traded as low as $4.91 and last traded at $4.92. 514,205 shares traded hands during trading, a decline of 88% from the average session volume of 4,172,819 shares. The stock had previously closed at $5.08.

Wall Street Analyst Weigh In

Several research firms have recently commented on COMM. Northland Securities boosted their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Morgan Stanley increased their price objective on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.50.

CommScope Price Performance

The firm has a market cap of $1.03 billion, a P/E ratio of -1.08 and a beta of 2.09. The company’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $3.61.

CommScope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently bought and sold shares of COMM. Future Financial Wealth Managment LLC bought a new position in CommScope during the third quarter valued at $31,000. National Bank of Canada FI boosted its stake in shares of 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 purchasing an additional 2,857 shares during the period. Quarry LP grew its holdings in CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 7,380 shares during the last quarter. Belvedere Trading LLC purchased a new stake in CommScope in the 3rd quarter worth about $68,000. Finally, Creative Planning bought a new stake in CommScope in the third quarter worth about $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.