CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $2.50 Consensus Target Price from Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) have been assigned an average rating of "Strong Sell" from the five ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $2.50.

Separately, Morgan Stanley downgraded CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a report on Tuesday, December 17th.

Hedge Funds Weigh In On CommScope

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in CommScope by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider's stock valued at $31,239,000 after acquiring an additional 155,166 shares in the last quarter. Millennium Management LLC boosted its position in shares of CommScope by 19.9% during the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider's stock valued at $6,242,000 after buying an additional 840,742 shares during the last quarter. State Street Corp grew its holdings in CommScope by 9.2% during the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider's stock worth $28,034,000 after buying an additional 387,466 shares in the last quarter. Two Sigma Advisers LP grew its holdings in CommScope by 29.3% during the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider's stock worth $26,296,000 after buying an additional 975,200 shares in the last quarter. Finally, Monarch Alternative Capital LP bought a new position in CommScope during the 3rd quarter valued at $16,623,000. 88.04% of the stock is currently owned by institutional investors.

CommScope Stock Down 1.0 %

Shares of NASDAQ COMM traded down $0.05 during trading on Wednesday, reaching $5.21. The company had a trading volume of 4,178,961 shares, compared to its average volume of 4,162,597. The stock has a market cap of $1.12 billion, a P/E ratio of -1.18 and a beta of 1.96. The company's fifty day moving average price is $5.45 and its 200-day moving average price is $4.27. CommScope has a 12 month low of $0.86 and a 12 month high of $7.19.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that CommScope will post -0.77 earnings per share for the current year.

About CommScope

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.