CommScope (NASDAQ:COMM) Lowered to Buy Rating by StockNews.com

CommScope (NASDAQ:COMM - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Tuesday.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $7.00 price objective on shares of CommScope in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, CommScope currently has an average rating of "Hold" and a consensus price target of $4.75.

CommScope Trading Up 3.0%

Shares of CommScope stock traded up $0.17 during trading hours on Tuesday, hitting $5.88. 4,370,846 shares of the company were exchanged, compared to its average volume of 5,025,908. CommScope has a 1 year low of $1.05 and a 1 year high of $7.19. The business has a 50-day moving average of $4.55 and a 200-day moving average of $5.03. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.33, a P/E/G ratio of 0.41 and a beta of 2.06.

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

Hedge Funds Weigh In On CommScope

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of CommScope by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock worth $5,500,000 after purchasing an additional 542,794 shares during the period. SG Americas Securities LLC raised its holdings in shares of CommScope by 130.6% in the 4th quarter. SG Americas Securities LLC now owns 45,650 shares of the communications equipment provider's stock worth $238,000 after purchasing an additional 25,855 shares during the period. Swiss National Bank purchased a new position in shares of CommScope in the 4th quarter worth about $2,212,000. Franklin Resources Inc. purchased a new position in shares of CommScope in the 3rd quarter worth about $755,000. Finally, Arizona State Retirement System purchased a new position in shares of CommScope in the 4th quarter worth about $326,000. 88.04% of the stock is currently owned by hedge funds and other 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.