Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) PT at $2.50

CommScope Holding Company, Inc. (NASDAQ:COMM) has received an average recommendation of “Reduce” from the five brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $2.50.

Several equities analysts have recently weighed in on the company. Morgan Stanley increased their price target on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. StockNews.com raised CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Finally, Northland Securities increased their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th.

CommScope Stock Performance

Shares of NASDAQ:COMM opened at $4.12 on Tuesday. The firm has a market cap of $889.42 million, a price-to-earnings ratio of -0.94, a price-to-earnings-growth ratio of 0.18 and a beta of 2.09. The business has a 50-day simple moving average of $5.85 and a two-hundred day simple moving average of $3.37. CommScope has a fifty-two week low of $0.86 and a fifty-two week high of $7.19.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts predict that CommScope will post 0.91 earnings per share for the current year.

Institutional Trading of CommScope

Hedge funds have recently bought and sold shares of the stock. Monarch Alternative Capital LP bought a new position in shares of CommScope in the third quarter worth about $16,623,000. Assenagon Asset Management S.A. bought a new stake in CommScope during the 3rd quarter worth approximately $11,023,000. Bank of Montreal Can purchased a new position in CommScope during the third quarter valued at approximately $7,023,000. Two Sigma Advisers LP boosted its position in shares of CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after purchasing an additional 975,200 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of CommScope by 319.3% in the second quarter. Acadian Asset Management LLC now owns 1,251,705 shares of the communications equipment provider’s stock worth $1,537,000 after purchasing an additional 953,171 shares in the last quarter. 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.