CommScope (NASDAQ:COMM) Downgraded by Raymond James to Underperform

CommScope (NASDAQ:COMM - Get Free Report) was downgraded by analysts at Raymond James from a "market perform" rating to an "underperform" rating in a research report issued on Monday, Marketbeat Ratings reports.

Separately, Morgan Stanley downgraded shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, CommScope has a consensus rating of "Reduce" and a consensus target price of $2.50.

CommScope Trading Up 1.3 %

COMM traded up $0.07 during trading on Monday, hitting $5.34. 6,523,579 shares of the company's stock were exchanged, compared to its average volume of 4,182,776. The stock has a 50 day moving average price of $5.41 and a 200 day moving average price of $4.35. CommScope has a 1 year low of $0.86 and a 1 year high of $7.19. The firm has a market cap of $1.15 billion, a P/E ratio of -1.21 and a beta of 1.92.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of CommScope by 151.9% during the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock worth $5,500,000 after purchasing an additional 542,794 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of CommScope during the 3rd quarter valued at approximately $755,000. Geode Capital Management LLC lifted its stake in CommScope by 3.1% during the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider's stock worth $31,239,000 after purchasing an additional 155,166 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in CommScope in the third quarter worth $460,000. Finally, National Bank of Canada FI raised its holdings in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider's stock worth $33,000 after purchasing an additional 2,857 shares during the period. 88.04% of the stock is currently owned by institutional investors.

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.