CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $14.75 Average Price Target from Brokerages

Key Points

• CommScope Holding Company, Inc. has received a consensus rating of "Moderate Buy" from nine research firms, with a one-year price target averaging $14.75.
• Recent upgrades from major brokerages include Bank of America's increase of their target price from $4.00 to $20.00, showcasing a significant rise in confidence in the stock.
• The company's latest earnings report revealed a 31.7% year-over-year revenue increase with earnings per share of $0.44, surpassing consensus estimates.

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.75.

A number of equities research analysts have weighed in on COMM shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Northland Capmk raised shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Raymond James Financial raised shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 price target for the company in a report on Tuesday, August 5th. Northland Securities set a $20.00 price target on shares of CommScope in a report on Tuesday, August 5th. Finally, Bank of America raised shares of CommScope from an "underperform" rating to a "buy" rating and upped their price target for the company from $4.00 to $20.00 in a report on Thursday, August 7th.

CommScope Stock Performance

Shares of CommScope stock traded up $0.43 during trading on Thursday, hitting $15.50. 10,744,092 shares of the stock were exchanged, compared to its average volume of 10,341,503. The stock's fifty day moving average is $8.97 and its 200 day moving average is $6.38. The stock has a market cap of $3.43 billion, a PE ratio of 5.83, a P/E/G ratio of 0.55 and a beta of 2.38. CommScope has a 12 month low of $2.94 and a 12 month high of $15.85.

CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. The company's quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts anticipate that CommScope will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in CommScope by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,126,442 shares of the communications equipment provider's stock worth $26,715,000 after buying an additional 14,576 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of CommScope by 23.8% in the fourth quarter. Wells Fargo & Company MN now owns 135,532 shares of the communications equipment provider's stock worth $706,000 after acquiring an additional 26,016 shares during the last quarter. Legal & General Group Plc grew its stake in shares of CommScope by 986.1% in the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock worth $1,066,000 after acquiring an additional 185,716 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of CommScope in the fourth quarter worth $109,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of CommScope in the fourth quarter worth $138,000. Institutional investors and hedge funds 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.