Commscope (NASDAQ:COMM)‘s stock had its “hold” rating reiterated by equities research analysts at Morgan Stanley in a note issued to investors on Friday, The Fly reports. They presently have a $23.00 price target on the communications equipment provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 18.62% from the company’s previous close. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued research reports about the company. Northland Securities set a $36.00 price objective on Commscope and gave the company a “buy” rating in a report on Thursday, August 2nd. Cross Research upgraded Commscope from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Credit Suisse Group set a $31.00 price objective on Commscope and gave the company a “hold” rating in a report on Wednesday, July 18th. Finally, Jefferies Financial Group downgraded Commscope from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $30.50 in a report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.79.
Shares of COMM opened at $19.39 on Friday. Commscope has a 52-week low of $18.52 and a 52-week high of $41.60. The company has a current ratio of 2.77, a quick ratio of 2.16 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.23.
Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). Commscope had a net margin of 4.43% and a return on equity of 24.14%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted $0.55 earnings per share. Commscope’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities analysts predict that Commscope will post 2.23 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Commscope during the second quarter worth $123,000. Twin Tree Management LP bought a new stake in Commscope during the second quarter worth $151,000. NumerixS Investment Technologies Inc grew its holdings in Commscope by 6,300.0% during the second quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 6,300 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Commscope by 54.7% during the second quarter. Advisors Asset Management Inc. now owns 14,583 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 5,156 shares in the last quarter. Finally, Hartford Investment Management Co. bought a new stake in Commscope during the second quarter worth $202,000.
Commscope Company Profile
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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