CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price rose 7.5% during mid-day trading on Thursday . The company traded as high as $7.99 and last traded at $8.34. Approximately 779,879 shares changed hands during trading, a decline of 85% from the average daily volume of 5,111,531 shares. The stock had previously closed at $7.75.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of CommScope from $6.00 to $7.50 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen lowered shares of CommScope from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.88.
Read Our Latest Stock Analysis on CommScope
CommScope Stock Performance
The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 3.00, a P/E/G ratio of 0.33 and a beta of 2.29. The firm's fifty day simple moving average is $5.56 and its 200 day simple moving average is $5.26.
CommScope (NASDAQ:COMM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. CommScope had a net margin of 16.89% and a negative return on equity of 4.51%. The firm's revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. Analysts forecast that CommScope Holding Company, Inc. will post -0.24 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in CommScope during the fourth quarter worth about $27,000. Sterling Capital Management LLC increased its stake in shares of CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock valued at $35,000 after buying an additional 6,030 shares during the period. Banque Transatlantique SA acquired a new position in shares of CommScope in the first quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its stake in shares of 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 buying an additional 4,026 shares during the period. Finally, Caliber Wealth Management LLC KS acquired a new position in shares of CommScope in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 88.04% of the company's stock.
About CommScope
(
Get Free Report)
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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