CommScope (NASDAQ:COMM) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

CommScope (NASDAQ:COMM) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03), Zacks reports. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%.

CommScope Trading Up 23.2 %

Shares of NASDAQ COMM traded up $1.14 during mid-day trading on Wednesday, reaching $6.03. The company had a trading volume of 14,402,956 shares, compared to its average volume of 4,191,269. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The company has a 50-day moving average price of $5.26 and a two-hundred day moving average price of $5.26. The stock has a market cap of $1.30 billion, a PE ratio of -1.37, a P/E/G ratio of 0.41 and a beta of 1.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COMM. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Raymond James downgraded CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Finally, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.00.

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.