Commscope (COMM) Rating Lowered to Sell at BidaskClub

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BidaskClub downgraded shares of Commscope (NASDAQ:COMM) from a hold rating to a sell rating in a report issued on Thursday.

COMM has been the subject of several other research reports. Northland Securities set a $36.00 price target on shares of Commscope and gave the company a buy rating in a research report on Thursday, August 2nd. Zacks Investment Research downgraded shares of Commscope from a hold rating to a sell rating in a report on Tuesday, May 1st. Credit Suisse Group initiated coverage on shares of Commscope in a report on Wednesday, May 9th. They set a neutral rating and a $31.00 price objective on the stock. Jefferies Financial Group downgraded shares of Commscope from a buy rating to a hold rating and cut their price objective for the stock from $35.00 to $30.50 in a report on Monday, August 6th. Finally, Rosenblatt Securities reaffirmed a hold rating and set a $32.00 price objective on shares of Commscope in a report on Sunday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Commscope currently has an average rating of Hold and a consensus price target of $36.68.

Commscope opened at $31.57 on Thursday, according to MarketBeat. Commscope has a 12-month low of $26.29 and a 12-month high of $41.60. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.77 and a quick ratio of 2.16. The firm has a market capitalization of $6.15 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.01.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $0.60 EPS. Commscope’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts expect that Commscope will post 2.23 earnings per share for the current year.

In other news, COO Morgan C. S. Kurk acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were purchased at an average cost of $29.27 per share, with a total value of $146,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.33% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of COMM. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Commscope by 338.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,944 shares of the communications equipment provider’s stock worth $149,000 after acquiring an additional 3,044 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Commscope during the 4th quarter worth $373,000. Envestnet Asset Management Inc. raised its stake in shares of Commscope by 3,620.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,476 shares of the communications equipment provider’s stock worth $1,229,000 after purchasing an additional 31,603 shares during the period. MRJ Capital Inc. raised its stake in shares of Commscope by 1.7% during the 1st quarter. MRJ Capital Inc. now owns 112,600 shares of the communications equipment provider’s stock worth $4,500,000 after purchasing an additional 1,900 shares during the period. Finally, Tower Bridge Advisors raised its stake in shares of Commscope by 11.8% during the 1st quarter. Tower Bridge Advisors now owns 73,860 shares of the communications equipment provider’s stock worth $2,952,000 after purchasing an additional 7,800 shares during the period.

Commscope Company Profile

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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Analyst Recommendations for Commscope (NASDAQ:COMM)

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