CommScope (NASDAQ:COMM) Shares Down 6.3% - What's Next?

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s stock price was down 6.3% during trading on Tuesday . The stock traded as low as $7.72 and last traded at $7.73. Approximately 3,397,740 shares traded hands during trading, a decline of 35% from the average daily volume of 5,208,962 shares. The stock had previously closed at $8.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COMM shares. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Finally, Wolfe Research began coverage on shares of CommScope in a research note on Monday. They set a "peer perform" rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, CommScope has an average rating of "Hold" and an average price target of $4.88.

CommScope Stock Down 5.3%

The firm's fifty day moving average price is $6.13 and its two-hundred day moving average price is $5.37. The stock has a market capitalization of $1.69 billion, a PE ratio of 2.86, a PEG ratio of 0.35 and a beta of 2.38.

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, beating the consensus estimate of $0.07 by $0.07. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The firm's quarterly revenue was up 23.5% on a year-over-year basis. As a group, analysts predict that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CommScope by 5.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,354 shares of the communications equipment provider's stock valued at $632,000 after buying an additional 5,909 shares during the last quarter. Swiss National Bank purchased a new stake in CommScope during the fourth quarter valued at approximately $2,212,000. Arizona State Retirement System purchased a new stake in CommScope during the fourth quarter valued at approximately $326,000. Amundi purchased a new stake in CommScope during the fourth quarter valued at approximately $137,000. Finally, Legal & General Group Plc increased its holdings in CommScope by 986.1% during the fourth quarter. Legal & General Group Plc now owns 204,549 shares of the communications equipment provider's stock valued at $1,066,000 after buying an additional 185,716 shares during the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.

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