Other research analysts also recently issued reports about the stock. Nomura dropped their target price on shares of Commscope from $24.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. TheStreet downgraded shares of Commscope from a “c” rating to a “d” rating in a research report on Friday, August 16th. Zacks Investment Research downgraded shares of Commscope from a “strong-buy” rating to a “sell” rating and set a $17.00 target price on the stock. in a research report on Tuesday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $16.00 price target on shares of Commscope in a report on Friday, August 9th. Finally, Deutsche Bank set a $28.00 price target on shares of Commscope and gave the stock a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Commscope currently has an average rating of “Hold” and an average price target of $19.13.
Shares of Commscope stock traded down $0.22 during trading on Tuesday, hitting $12.98. The stock had a trading volume of 110,886 shares, compared to its average volume of 3,047,551. The stock has a 50 day simple moving average of $12.00 and a 200 day simple moving average of $17.99. The company has a market capitalization of $2.43 billion, a PE ratio of 6.14, a P/E/G ratio of 0.39 and a beta of 1.50. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 7.23. Commscope has a 1 year low of $9.52 and a 1 year high of $31.35.
Commscope (NASDAQ:COMM) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.16. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.57 billion. Commscope had a negative net margin of 5.03% and a positive return on equity of 25.08%. The firm’s quarterly revenue was up 107.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities analysts expect that Commscope will post 1.87 earnings per share for the current fiscal year.
In other Commscope news, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $15.84, for a total value of $1,279,872.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L William Krause bought 21,250 shares of Commscope stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $11.87 per share, with a total value of $252,237.50. The disclosure for this purchase can be found here. Company insiders own 3.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new position in Commscope during the 2nd quarter valued at about $43,000. Advisor Group Inc. lifted its position in Commscope by 256.3% during the second quarter. Advisor Group Inc. now owns 4,482 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 3,224 shares in the last quarter. Machina Capital S.A.S. lifted its position in Commscope by 174.1% during the second quarter. Machina Capital S.A.S. now owns 5,236 shares of the communications equipment provider’s stock valued at $82,000 after purchasing an additional 3,326 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Commscope during the second quarter valued at $115,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Commscope by 16.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock valued at $127,000 after purchasing an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 98.46% of the company’s stock.
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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