Commscope Holding Company Inc (NASDAQ:COMM) shares gapped down before the market opened on Friday . The stock had previously closed at $12.44, but opened at $12.59. Commscope shares last traded at $12.17, with a volume of 157,540 shares traded.
Several research analysts recently weighed in on COMM shares. Credit Suisse Group restated a “buy” rating and set a $21.00 price target on shares of Commscope in a research report on Friday. Rosenblatt Securities downgraded shares of Commscope from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $13.00 in a research report on Tuesday, October 29th. Citigroup downgraded shares of Commscope from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $13.00 in a research report on Tuesday, October 29th. Nomura restated a “buy” rating on shares of Commscope in a research report on Tuesday, December 17th. Finally, Deutsche Bank downgraded shares of Commscope from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.23.
The company has a market cap of $2.45 billion, a price-to-earnings ratio of -2.51, a P/E/G ratio of 0.56 and a beta of 1.79. The company has a current ratio of 1.86, a quick ratio of 1.29 and a debt-to-equity ratio of 8.34. The stock’s fifty day simple moving average is $13.65 and its 200 day simple moving average is $12.75.Commscope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, February 20th. The communications equipment provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.21. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Commscope had a negative net margin of 11.14% and a positive return on equity of 28.01%. Commscope’s quarterly revenue was up 117.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, analysts predict that Commscope Holding Company Inc will post 1.87 EPS for the current year.
In other Commscope news, Director Frank M. Drendel sold 95,334 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $13.19, for a total value of $1,257,455.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.25% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Commscope by 309.5% in the 3rd quarter. Millennium Management LLC now owns 190,931 shares of the communications equipment provider’s stock valued at $2,245,000 after buying an additional 144,300 shares during the period. Stifel Financial Corp grew its stake in shares of Commscope by 19.3% in the 3rd quarter. Stifel Financial Corp now owns 32,812 shares of the communications equipment provider’s stock valued at $383,000 after buying an additional 5,301 shares during the period. SG Americas Securities LLC grew its stake in shares of Commscope by 584.1% in the 3rd quarter. SG Americas Securities LLC now owns 102,038 shares of the communications equipment provider’s stock valued at $1,200,000 after buying an additional 87,122 shares during the period. Comerica Bank grew its stake in shares of Commscope by 18.2% in the 3rd quarter. Comerica Bank now owns 46,395 shares of the communications equipment provider’s stock valued at $563,000 after buying an additional 7,128 shares during the period. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Commscope by 94.5% in the 4th quarter. Coronation Fund Managers Ltd. now owns 1,135,370 shares of the communications equipment provider’s stock valued at $16,111,000 after buying an additional 551,620 shares during the period.
About Commscope (NASDAQ:COMM)
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.
