CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Average Recommendation of “Hold” from Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.00.

COMM has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on shares of CommScope from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 7th. Wolfe Research increased their target price on shares of CommScope from $23.00 to $20.00 in a report on Friday, April 9th. Rosenblatt Securities upgraded shares of CommScope from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, April 8th. Evercore ISI upgraded shares of CommScope from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $19.00 to $24.00 in a report on Friday, May 21st. Finally, Morgan Stanley increased their target price on shares of CommScope from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, May 7th.

Shares of NASDAQ COMM traded up $0.07 during mid-day trading on Friday, hitting $21.38. The company’s stock had a trading volume of 12,050 shares, compared to its average volume of 2,589,902. CommScope has a one year low of $7.56 and a one year high of $21.61. The company has a fifty day simple moving average of $17.99. The company has a current ratio of 1.73, a quick ratio of 1.16 and a debt-to-equity ratio of 45.65. The stock has a market capitalization of $4.36 billion, a PE ratio of -7.46, a price-to-earnings-growth ratio of 0.50 and a beta of 1.82.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, May 6th. The communications equipment provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. CommScope had a negative net margin of 6.03% and a positive return on equity of 132.51%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $0.12 earnings per share. CommScope’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that CommScope will post 1.55 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in CommScope by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 14,706,506 shares of the communications equipment provider’s stock valued at $225,892,000 after purchasing an additional 49,798 shares in the last quarter. Lyrical Asset Management LP grew its position in CommScope by 2.4% in the first quarter. Lyrical Asset Management LP now owns 9,445,522 shares of the communications equipment provider’s stock valued at $145,083,000 after purchasing an additional 221,334 shares in the last quarter. Nuveen Asset Management LLC grew its position in CommScope by 21.6% in the first quarter. Nuveen Asset Management LLC now owns 8,539,392 shares of the communications equipment provider’s stock valued at $131,165,000 after purchasing an additional 1,519,018 shares in the last quarter. Cannell Peter B & Co. Inc. grew its position in CommScope by 14.0% in the first quarter. Cannell Peter B & Co. Inc. now owns 3,090,500 shares of the communications equipment provider’s stock valued at $47,470,000 after purchasing an additional 379,750 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC lifted its stake in CommScope by 66.1% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 2,564,992 shares of the communications equipment provider’s stock valued at $39,398,000 after acquiring an additional 1,021,185 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Home Networks (Home), Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN).The Broadband segment provides a converged cable access platform, 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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Analyst Recommendations for CommScope (NASDAQ:COMM)

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