CommScope (NASDAQ:COMM) Stock Price Down 6.6% - Here's Why

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) fell 6.6% during mid-day trading on Friday . The stock traded as low as $5.97 and last traded at $5.92. 612,803 shares changed hands during trading, a decline of 88% from the average session volume of 5,171,955 shares. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

COMM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $7.00 price target on shares of CommScope in a research note on Thursday, February 27th. Wall Street Zen downgraded shares of CommScope from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $4.75.

CommScope Stock Performance

The stock has a market capitalization of $1.23 billion, a PE ratio of -1.29, a price-to-earnings-growth ratio of 0.41 and a beta of 2.29. The business's 50-day moving average is $4.91 and its two-hundred day moving average is $5.15.

CommScope (NASDAQ:COMM - Get Free Report) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.07 by $0.07. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the business earned ($0.08) EPS. The business's revenue was up 23.5% on a year-over-year basis. Equities analysts forecast that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On CommScope

A number of large investors have recently modified their holdings of COMM. Tower Research Capital LLC TRC grew its holdings in CommScope by 67.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock valued at $52,000 after purchasing an additional 4,026 shares during the last quarter. US Bancorp DE raised its stake in shares of CommScope by 27.0% during the 1st quarter. US Bancorp DE now owns 20,404 shares of the communications equipment provider's stock worth $108,000 after buying an additional 4,337 shares during the last quarter. Bayesian Capital Management LP boosted its position in shares of 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 buying an additional 4,500 shares in the last quarter. NewEdge Advisors LLC grew its stake in CommScope by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 63,433 shares of the communications equipment provider's stock valued at $337,000 after acquiring an additional 4,669 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in CommScope during the 4th quarter valued at about $27,000. 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.