Brokerages Set CommScope Holding Company, Inc. (NASDAQ:COMM) Target Price at $10.40

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.40.

Several research firms recently commented on COMM. Morgan Stanley reduced their price target on shares of CommScope from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Credit Suisse Group boosted their target price on shares of CommScope from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, February 18th. StockNews.com began coverage on shares of CommScope in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, April 11th. Finally, The Goldman Sachs Group lowered shares of CommScope from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $9.00 in a research note on Friday, April 1st.

COMM opened at $7.27 on Friday. CommScope has a fifty-two week low of $5.94 and a fifty-two week high of $22.18. The company has a fifty day moving average of $7.06 and a two-hundred day moving average of $8.87. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -2.64, a PEG ratio of 0.17 and a beta of 1.69.

CommScope (NASDAQ:COMM – Get Rating) last issued its earnings results on Thursday, May 5th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.07 billion. CommScope had a negative return on equity of 235.45% and a negative net margin of 5.78%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts predict that CommScope will post 1.39 earnings per share for the current year.

In related news, Director Claudius E. Iv Watts bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The stock was bought at an average cost of $7.26 per share, for a total transaction of $43,560.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Farid Firouzbakht purchased 10,000 shares of CommScope stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average price of $6.97 per share, for a total transaction of $69,700.00. Following the acquisition, the senior vice president now owns 149,824 shares in the company, valued at $1,044,273.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 26,000 shares of company stock worth $196,200. 2.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of COMM. Diameter Capital Partners LP bought a new stake in shares of CommScope in the fourth quarter worth $41,352,000. Weiss Multi Strategy Advisers LLC boosted its holdings in shares of CommScope by 80.0% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 6,604,444 shares of the communications equipment provider’s stock valued at $52,043,000 after purchasing an additional 2,934,775 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of CommScope by 1,801.7% during the 4th quarter. Marshall Wace LLP now owns 2,993,552 shares of the communications equipment provider’s stock worth $33,050,000 after acquiring an additional 2,836,141 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of CommScope by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 27,002,559 shares of the communications equipment provider’s stock worth $212,781,000 after buying an additional 2,790,362 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of CommScope by 22.1% during the 1st quarter. BlackRock Inc. now owns 14,164,751 shares of the communications equipment provider’s stock valued at $111,616,000 after purchasing an additional 2,560,861 shares during the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

CommScope Company Profile (Get Rating)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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