CommScope Holding Company, Inc. (COMM) Downgraded by ValuEngine
CommScope Holding Company, Inc. (NASDAQ:COMM) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Saturday.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded CommScope Holding from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and set a $43.00 price target on shares of CommScope Holding in a report on Friday, July 14th. Morgan Stanley upgraded CommScope Holding from an “equal weight” rating to an “overweight” rating and set a $38.00 price target on the stock in a report on Thursday, August 17th. BidaskClub downgraded CommScope Holding from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Northland Securities set a $28.00 price target on CommScope Holding and gave the stock a “hold” rating in a report on Tuesday, October 17th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. CommScope Holding currently has a consensus rating of “Buy” and an average price target of $40.27.
Shares of CommScope Holding (NASDAQ COMM) traded down $0.72 during mid-day trading on Friday, reaching $33.51. The company had a trading volume of 1,732,749 shares, compared to its average volume of 1,518,532. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.78 and a quick ratio of 2.06. The company has a market cap of $6.39 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.61 and a beta of 1.16.
CommScope Holding (NASDAQ:COMM) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. CommScope Holding had a return on equity of 29.11% and a net margin of 4.21%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $0.81 EPS. CommScope Holding’s revenue was down 12.8% on a year-over-year basis. equities analysts anticipate that CommScope Holding will post 2.07 EPS for the current fiscal year.
CommScope Holding announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Claudius E. Iv Watts bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average cost of $32.87 per share, with a total value of $493,050.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy T. Yates bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $32.62 per share, with a total value of $163,100.00. The disclosure for this purchase can be found here. 3.33% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of CommScope Holding by 6.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,690 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 160 shares during the period. LS Investment Advisors LLC acquired a new stake in shares of CommScope Holding in the 2nd quarter valued at about $114,000. Krilogy Financial LLC boosted its position in shares of CommScope Holding by 5.7% in the 2nd quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 170 shares during the period. Financial Architects Inc boosted its position in shares of CommScope Holding by 9.8% in the 2nd quarter. Financial Architects Inc now owns 3,603 shares of the communications equipment provider’s stock valued at $137,000 after purchasing an additional 322 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of CommScope Holding by 76.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,770 shares of the communications equipment provider’s stock valued at $181,000 after purchasing an additional 2,064 shares during the period.
CommScope Holding Company Profile
CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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