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

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $7.00 target price on shares of CommScope in a report on Thursday, February 27th. Wall Street Zen cut 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 issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, CommScope presently has an average rating of "Hold" and an average target price of $4.75.

CommScope Price Performance

The firm has a market capitalization of $1.26 billion, a PE ratio of -1.31, a P/E/G ratio of 0.41 and a beta of 2.29. The company's fifty day simple moving average is $4.91 and its 200 day simple moving average is $5.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Inspire Investing LLC boosted its holdings in CommScope by 166.3% in the first quarter. Inspire Investing LLC now owns 205,787 shares of the communications equipment provider's stock valued at $1,093,000 after acquiring an additional 128,511 shares in the last quarter. Strs Ohio bought a new stake in CommScope in the first quarter valued at $300,000. Bayforest Capital Ltd bought a new stake in CommScope in the first quarter valued at $412,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CommScope by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 520,677 shares of the communications equipment provider's stock valued at $2,765,000 after acquiring an additional 39,064 shares in the last quarter. Finally, Optimize Financial Inc bought a new stake in CommScope in the first quarter valued at $1,710,000. 88.04% of the stock is currently owned by 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.