CommScope (NASDAQ:COMM) Sets New 12-Month High - What's Next?

Key Points

• CommScope's share price reached a new 52-week high of $8.68, closing at $8.39 with a trading volume of 886,718 shares.
• Wall Street analysts largely maintain a hold rating on CommScope, with an average target price of $4.88, while some firms have upgraded or initiated coverage with varied ratings.
• The company reported a significant increase in revenue, achieving $1.11 billion for the quarter, up 23.5% year-over-year, and beating analysts' expectations of $0.07 EPS by reporting $0.14.

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $8.68 and last traded at $8.39, with a volume of 886718 shares changing hands. The stock had previously closed at $8.13.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COMM. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Wolfe Research began coverage on shares of CommScope in a report on Monday, July 7th. They set a "peer perform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of CommScope from $6.00 to $7.50 and gave the company a "hold" rating in a report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, CommScope has a consensus rating of "Hold" and a consensus target price of $4.88.

CommScope Stock Performance

The company has a market cap of $1.72 billion, a price-to-earnings ratio of 2.88, a price-to-earnings-growth ratio of 0.24 and a beta of 2.38. The stock's fifty day moving average is $7.12 and its two-hundred day moving average is $5.68.

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, topping analysts' consensus estimates of $0.07 by $0.07. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm's revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts expect that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On CommScope

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in CommScope by 14.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,121 shares of the communications equipment provider's stock worth $117,000 after purchasing an additional 1,748 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after purchasing an additional 4,026 shares in the last quarter. US Bancorp DE grew its position in CommScope by 27.0% in the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock worth $108,000 after purchasing an additional 4,337 shares in the last quarter. Bayesian Capital Management LP grew its position in CommScope by 25.6% in the 4th quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider's stock worth $115,000 after purchasing an additional 4,500 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in CommScope by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider's stock worth $337,000 after purchasing an additional 4,669 shares in the last quarter. 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.