CommScope (NASDAQ:COMM) Stock Price Down 3.5% - What's Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) fell 3.5% during mid-day trading on Friday . The company traded as low as $5.69 and last traded at $5.66. 142,159 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 3,684,369 shares. The stock had previously closed at $5.86.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COMM. Morgan Stanley cut shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price objective on the stock. in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 14th. Finally, Raymond James cut shares of CommScope from a "market perform" rating to an "underperform" rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, CommScope currently has a consensus rating of "Hold" and a consensus target price of $3.00.

CommScope Trading Down 5.6 %

The business's 50 day moving average price is $5.29 and its two-hundred day moving average price is $4.74. The stock has a market cap of $1.19 billion, a P/E ratio of -1.25, a price-to-earnings-growth ratio of 0.67 and a beta of 1.92.

CommScope (NASDAQ:COMM - Get Free Report) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, analysts expect that CommScope Holding Company, Inc. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On CommScope

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted 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 acquiring an additional 155,166 shares in the last quarter. Millennium Management LLC lifted its stake in shares of CommScope by 19.9% in the second quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider's stock worth $6,242,000 after buying an additional 840,742 shares in the last quarter. State Street Corp lifted its stake in shares of CommScope by 9.2% in 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 lifted its stake in shares of CommScope by 29.3% in 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 shares of CommScope in the third quarter worth approximately $16,623,000. Institutional investors own 88.04% of the company's stock.

CommScope Company Profile

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.