CommScope (NASDAQ:COMM) Shares Down 6.2% - Here's Why

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) traded down 6.2% during mid-day trading on Tuesday . The stock traded as low as $7.34 and last traded at $7.30. 2,410,837 shares were traded during trading, a decline of 54% from the average session volume of 5,224,918 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

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

CommScope Stock Performance

The company has a 50 day moving average of $6.58 and a two-hundred day moving average of $5.47. The stock has a market cap of $1.67 billion, a PE ratio of 2.83, a price-to-earnings-growth ratio of 0.30 and a beta of 2.38.

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 for the quarter, beating the consensus estimate of $0.07 by $0.07. CommScope had a negative return on equity of 4.51% and a net margin of 16.89%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. CommScope's revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities research analysts anticipate that CommScope Holding Company, Inc. will post -0.24 EPS for the current year.

Institutional Investors Weigh In On CommScope

Large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope during the 4th quarter worth approximately $27,000. Banque Transatlantique SA acquired a new position in CommScope during the first quarter worth $34,000. Sterling Capital Management LLC increased its position in shares of CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider's stock worth $35,000 after acquiring an additional 6,030 shares during the period. Tower Research Capital LLC TRC increased its position in shares of CommScope by 67.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider's stock worth $52,000 after acquiring an additional 4,026 shares during the period. Finally, Sciencast Management LP purchased a new stake in shares of CommScope during the fourth quarter worth $56,000. 88.04% of the stock is currently owned by hedge funds and other 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.