CommScope (NASDAQ:COMM) Trading Down 5.1% – Here’s What Happened

Shares of CommScope Holding Company, Inc. (NASDAQ:COMMGet Free Report) dropped 5.1% on Wednesday . The stock traded as low as $4.30 and last traded at $4.30. Approximately 1,606,160 shares changed hands during trading, a decline of 61% from the average daily volume of 4,166,371 shares. The stock had previously closed at $4.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COMM shares. StockNews.com raised shares of CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Morgan Stanley increased their target price on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Northland Securities boosted their price target on CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.50.

Get Our Latest Stock Analysis on CommScope

CommScope Stock Up 6.8 %

The firm has a market capitalization of $1.01 billion, a P/E ratio of -1.07, a PEG ratio of 0.20 and a beta of 2.09. The business’s 50 day moving average is $5.80 and its 200-day moving average is $3.43.

CommScope (NASDAQ:COMMGet Free Report) last issued 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). CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On CommScope

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake 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 purchasing an additional 155,166 shares during the last quarter. Millennium Management LLC increased its holdings 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 worth $6,242,000 after buying an additional 840,742 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of CommScope by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 4,678,037 shares of the communications equipment provider’s stock valued at $6,128,000 after acquiring an additional 461,264 shares during the last quarter. State Street Corp boosted its holdings in shares of CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock valued at $28,034,000 after acquiring an additional 387,466 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in CommScope by 29.3% in the 3rd quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock worth $26,296,000 after purchasing an additional 975,200 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

CommScope Company Profile

(Get Free Report)

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.

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