CommScope Holding Company, Inc. (NASDAQ:COMM) Given Average Rating of "Reduce" by Brokerages

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) have been assigned an average recommendation of "Reduce" from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.75.

COMM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $7.00 target price on shares of CommScope in a research note on Thursday, February 27th. Raymond James lowered shares of CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a report on Tuesday, January 14th. Finally, StockNews.com raised shares of CommScope from a "buy" rating to a "strong-buy" rating in a research note on Monday.

CommScope Stock Down 0.2 %

Shares of NASDAQ COMM opened at $4.75 on Tuesday. CommScope has a 52 week low of $0.92 and a 52 week high of $7.19. The firm has a market cap of $1.03 billion, a P/E ratio of -1.07, a P/E/G ratio of 0.41 and a beta of 2.06. The business's 50 day moving average price is $4.61 and its 200 day moving average price is $5.10.

CommScope (NASDAQ:COMM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, research analysts expect that CommScope will post -0.24 earnings per share for the current year.

Institutional Trading of CommScope

Institutional investors and hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH boosted its holdings in CommScope by 1,152.3% in the 1st quarter. Allianz Asset Management GmbH now owns 186,600 shares of the communications equipment provider's stock worth $991,000 after buying an additional 171,700 shares during the last quarter. Hussman Strategic Advisors Inc. raised its stake in CommScope by 100.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 210,000 shares of the communications equipment provider's stock valued at $1,115,000 after purchasing an additional 105,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CommScope by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 725,413 shares of the communications equipment provider's stock valued at $3,852,000 after purchasing an additional 41,286 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in CommScope during the 1st quarter worth $258,000. Finally, WCM Investment Management LLC acquired a new stake in shares of CommScope in the first quarter valued at about $86,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.