CommScope Holding Company, Inc. (NASDAQ:COMM) Receives Average Rating of “Reduce” from Analysts

CommScope Holding Company, Inc. (NASDAQ:COMM) has earned an average rating of “Reduce” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $4.02.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of CommScope in a report on Monday, March 4th. StockNews.com lowered shares of CommScope from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Bank of America dropped their price objective on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a report on Wednesday, March 13th. Finally, Northland Securities reiterated a “market perform” rating on shares of CommScope in a report on Friday, March 1st.

Insider Buying and Selling

In other CommScope news, Director L William Krause bought 57,300 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of $1.59 per share, for a total transaction of $91,107.00. Following the acquisition, the director now directly owns 227,873 shares of the company’s stock, valued at approximately $362,318.07. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CommScope

A number of institutional investors have recently added to or reduced their stakes in COMM. SG Americas Securities LLC bought a new stake in CommScope in the 3rd quarter worth about $96,000. Bank of New York Mellon Corp grew its position in CommScope by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,061,858 shares of the communications equipment provider’s stock worth $3,568,000 after purchasing an additional 27,052 shares in the last quarter. Brown Advisory Inc. grew its position in CommScope by 12.1% in the 3rd quarter. Brown Advisory Inc. now owns 277,026 shares of the communications equipment provider’s stock worth $931,000 after purchasing an additional 30,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CommScope by 30.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,272 shares of the communications equipment provider’s stock worth $149,000 after purchasing an additional 10,261 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in CommScope by 61.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 59,261 shares of the communications equipment provider’s stock worth $199,000 after purchasing an additional 22,593 shares in the last quarter. 88.04% of the stock is owned by institutional investors.

CommScope Trading Down 13.7 %

Shares of COMM opened at $0.91 on Friday. The firm’s fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $1.92. CommScope has a 12 month low of $0.86 and a 12 month high of $6.65. The stock has a market capitalization of $194.14 million, a P/E ratio of -0.13 and a beta of 1.98.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). CommScope had a negative net margin of 21.64% and a negative return on equity of 7.18%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.53 billion. As a group, research analysts predict that CommScope will post -0.29 EPS for the current fiscal year.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.