Commscope (NASDAQ:COMM) Lowered to “Outperform” at Raymond James

Commscope (NASDAQ:COMM) was downgraded by research analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a note issued to investors on Friday, The Fly reports.

A number of other research analysts also recently commented on COMM. ValuEngine upgraded Commscope from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Credit Suisse Group upgraded Commscope from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $20.00 to $34.00 in a research note on Tuesday, April 2nd. BidaskClub upgraded Commscope from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. started coverage on Commscope in a research note on Monday, April 22nd. They issued an “overweight” rating on the stock. Finally, Morgan Stanley upgraded Commscope from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.27.

NASDAQ:COMM opened at $16.40 on Friday. The firm has a market cap of $3.14 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 0.36 and a beta of 1.49. Commscope has a 1-year low of $15.09 and a 1-year high of $32.48. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 4.28.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Commscope had a return on equity of 23.46% and a net margin of 2.29%. Commscope’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. Equities research analysts predict that Commscope will post 2.26 EPS for the current year.

In other news, Director Frank M. Drendel sold 80,800 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $18.35, for a total transaction of $1,482,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bruce William Mcclelland purchased 3,500 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average price of $18.00 per share, with a total value of $63,000.00. The disclosure for this purchase can be found here. Insiders own 3.25% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in Commscope by 1.8% during the 3rd quarter. Vanguard Group Inc now owns 17,155,725 shares of the communications equipment provider’s stock worth $527,711,000 after acquiring an additional 303,966 shares in the last quarter. Rhumbline Advisers grew its holdings in Commscope by 2.5% during the 4th quarter. Rhumbline Advisers now owns 172,645 shares of the communications equipment provider’s stock worth $2,830,000 after acquiring an additional 4,221 shares in the last quarter. M&T Bank Corp grew its holdings in Commscope by 7.0% during the 4th quarter. M&T Bank Corp now owns 11,771 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 774 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Commscope by 11.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,595 shares of the communications equipment provider’s stock worth $124,000 after acquiring an additional 750 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Commscope by 587.8% during the 4th quarter. Mackenzie Financial Corp now owns 139,176 shares of the communications equipment provider’s stock worth $2,281,000 after acquiring an additional 118,941 shares in the last quarter. Institutional investors own 97.69% of the company’s stock.

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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