Commscope Holding Company Rating Lowered to Neutral at Zacks (COMM)
Commscope Holding Company (NASDAQ:COMM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday. They currently have a $30.40 price objective on the stock. Zacks‘s price target indicates a potential upside of 31.60% from the stock’s previous close.
A number of other analysts have also recently weighed in on COMM. Analysts at Raymond James reiterated an “outperform” rating on shares of Commscope Holding Company in a research note on Thursday, May 1st. They now have a $30.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Commscope Holding Company from $25.00 to $31.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Finally, analysts at National Alliance Securities raised their price target on shares of Commscope Holding Company from $28.00 to $33.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Commscope Holding Company currently has a consensus rating of “Buy” and a consensus price target of $27.65.
Commscope Holding Company (NASDAQ:COMM) traded down 0.13% on Tuesday, hitting $23.10. 1,218,893 shares of the company’s stock traded hands. Commscope Holding Company has a 52-week low of $14.72 and a 52-week high of $27.96. The stock has a 50-day moving average of $24.68 and a 200-day moving average of $22.32. The company has a market cap of $4.301 billion and a price-to-earnings ratio of 57.97.
Commscope Holding Company (NASDAQ:COMM) last announced its earnings results on Wednesday, April 30th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $804.70 million. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts expect that Commscope Holding Company will post $2.13 EPS for the current fiscal year.
In other Commscope Holding Company news, major shareholder Group L.P. Carlyle sold 20,125,000 shares of the stock on the open market in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $22.14, for a total value of $445,567,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
CommScope Holding Company, Inc is a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks.
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