Commscope (COMM) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Commscope (NASDAQ:COMM) from a buy rating to a hold rating in a report published on Thursday.

Other analysts also recently issued reports about the stock. Jefferies Group restated a buy rating and issued a $40.00 target price on shares of Commscope in a report on Wednesday, September 20th. Citigroup boosted their target price on shares of Commscope from $39.00 to $40.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Commscope from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Thursday, October 19th. ValuEngine upgraded shares of Commscope from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Northland Securities restated a hold rating on shares of Commscope in a report on Friday, November 10th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Commscope currently has a consensus rating of Buy and an average price target of $40.30.

Shares of Commscope (NASDAQ:COMM) traded up $0.23 during midday trading on Thursday, reaching $38.10. 1,171,300 shares of the company’s stock were exchanged, compared to its average volume of 1,353,175. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78. The company has a market cap of $7,267.08, a P/E ratio of 38.48, a P/E/G ratio of 2.49 and a beta of 1.20. Commscope has a one year low of $30.95 and a one year high of $42.75.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Commscope had a net margin of 4.21% and a return on equity of 29.11%. Commscope’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. equities analysts anticipate that Commscope will post 2.01 earnings per share for the current fiscal year.

In related news, Director Frank M. Drendel sold 5,284 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.01, for a total transaction of $200,844.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $36.45, for a total transaction of $1,822,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 130,284 shares of company stock worth $4,874,245 over the last quarter. 3.33% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in Commscope during the 2nd quarter valued at about $38,211,000. Swiss National Bank boosted its position in Commscope by 122.7% in the 2nd quarter. Swiss National Bank now owns 710,000 shares of the communications equipment provider’s stock valued at $27,001,000 after buying an additional 391,157 shares during the period. Lingohr & Partner Asset Management GmbH boosted its position in Commscope by 23.5% in the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 29,640 shares of the communications equipment provider’s stock valued at $1,236,000 after buying an additional 5,644 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Commscope in the 2nd quarter valued at about $14,795,000. Finally, AMP Capital Investors Ltd boosted its position in Commscope by 64.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 72,036 shares of the communications equipment provider’s stock valued at $2,391,000 after buying an additional 28,300 shares during the period.

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Commscope Company Profile

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

Analyst Recommendations for Commscope (NASDAQ:COMM)

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