CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $1.75 Consensus Target Price from Analysts

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) has been given an average rating of "Reduce" by the six brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $1.75.

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $1.25 to $2.00 and gave the company a "hold" rating in a report on Tuesday, July 30th. StockNews.com raised shares of CommScope from a "sell" rating to a "hold" rating in a research note on Thursday, August 15th. Finally, Northland Securities increased their price target on shares of CommScope from $1.25 to $2.00 and gave the company a "market perform" rating in a research note on Monday, August 12th.

CommScope Stock Up 7.1 %

Shares of COMM traded up $0.40 during trading hours on Friday, reaching $6.05. 4,035,395 shares of the company traded hands, compared to its average volume of 4,078,225. CommScope has a 12-month low of $0.86 and a 12-month high of $6.75. The stock has a market capitalization of $1.28 billion, a P/E ratio of -0.67, a P/E/G ratio of 0.28 and a beta of 2.10. The business has a fifty day moving average price of $5.02 and a 200-day moving average price of $2.63.

CommScope (NASDAQ:COMM - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company posted $0.14 EPS. The company's revenue was down 12.7% on a year-over-year basis. As a group, research analysts predict that CommScope will post 0.91 EPS for the current fiscal year.

Institutional Trading of CommScope

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC boosted its holdings in CommScope by 357.9% during the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider's stock worth $31,000 after buying an additional 18,722 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in CommScope during the third quarter worth about $31,000. Allspring Global Investments Holdings LLC raised its position in CommScope by 5,083.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider's stock worth $34,000 after acquiring an additional 25,212 shares during the last quarter. Creative Planning acquired a new position in CommScope during the third quarter worth about $73,000. Finally, Fore Capital LLC raised its position in CommScope by 36.5% during the second quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider's stock worth $92,000 after acquiring an additional 20,000 shares during the last quarter. Hedge funds and other 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.