CommScope (NASDAQ:COMM) Cut to Sell at StockNews.com

CommScope (NASDAQ:COMM) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Separately, Deutsche Bank Aktiengesellschaft upped their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1.67.

CommScope Trading Up 31.0 %

NASDAQ:COMM opened at $2.79 on Wednesday. CommScope has a 1 year low of $0.86 and a 1 year high of $3.97. The stock has a 50-day moving average price of $1.59 and a two-hundred day moving average price of $1.52. The stock has a market cap of $592.25 million, a price-to-earnings ratio of -0.32, a PEG ratio of 1.91 and a beta of 2.08.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, May 9th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.14. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.04 billion. CommScope had a negative return on equity of 1.75% and a negative net margin of 30.88%. Sell-side analysts forecast that CommScope will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in CommScope by 28.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,790,900 shares of the communications equipment provider’s stock worth $16,330,000 after purchasing an additional 1,280,636 shares during the last quarter. Bailard Inc. acquired a new position in shares of CommScope during the 4th quarter worth about $269,000. Teacher Retirement System of Texas grew its holdings in shares of CommScope by 217.1% in the 4th quarter. Teacher Retirement System of Texas now owns 1,561,443 shares of the communications equipment provider’s stock valued at $4,403,000 after acquiring an additional 1,068,969 shares in the last quarter. SG Americas Securities LLC increased its position in shares of CommScope by 76.4% in the fourth quarter. SG Americas Securities LLC now owns 50,480 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 21,869 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in CommScope by 6.5% during the fourth quarter. BNP Paribas Financial Markets now owns 344,412 shares of the communications equipment provider’s stock worth $971,000 after acquiring an additional 20,914 shares in the last quarter. 88.04% of the stock is 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.