CommScope's (COMM) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• CommScope's stock has maintained a "hold (c)" rating from Weiss Ratings, despite several other analysts upgrading its outlook significantly, with Bank of America raising its price target from $4.00 to $20.00.
• The company reported a notable increase in revenue of 31.7% year-over-year, achieving $1.39 billion in the latest quarter, along with an earnings per share (EPS) of $0.44, surpassing analyst expectations.
• Currently, CommScope has a market cap of $3.34 billion and is showing trading activity of over 3 million shares, with an average price target consensus of $14.75 among analysts.

CommScope (NASDAQ:COMM - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on COMM. Bank of America upgraded shares of CommScope from an "underperform" rating to a "buy" rating and lifted their price target for the company from $4.00 to $20.00 in a report on Thursday, August 7th. Northland Capmk upgraded shares of CommScope from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Raymond James Financial upgraded shares of CommScope from an "underperform" rating to an "outperform" rating and set a $19.00 target price on the stock in a report on Tuesday, August 5th. Northland Securities set a $20.00 target price on shares of CommScope in a report on Tuesday, August 5th. Finally, Citigroup upgraded shares of CommScope to an "outperform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, CommScope has an average rating of "Moderate Buy" and a consensus price target of $14.75.

CommScope Trading Up 0.1%

Shares of COMM traded up $0.01 during trading hours on Wednesday, reaching $15.06. 3,390,539 shares of the stock traded hands, compared to its average volume of 5,476,555. The company has a market cap of $3.34 billion, a P/E ratio of 5.66, a price-to-earnings-growth ratio of 0.52 and a beta of 2.42. The company's 50-day moving average price is $15.45 and its two-hundred day moving average price is $9.16. CommScope has a 52-week low of $2.94 and a 52-week high of $17.13.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The communications equipment provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.20. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.27 billion. CommScope had a net margin of 16.61% and a negative return on equity of 6.29%. CommScope's revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, research analysts forecast that CommScope will post -0.24 EPS for the current year.

Hedge Funds Weigh In On CommScope

Large investors have recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in CommScope in the 1st quarter valued at about $34,000. Caliber Wealth Management LLC KS purchased a new stake in CommScope in the 1st quarter valued at about $57,000. KBC Group NV purchased a new stake in CommScope in the 1st quarter valued at about $65,000. West Michigan Advisors LLC purchased a new stake in CommScope in the 2nd quarter valued at about $83,000. Finally, GAMMA Investing LLC boosted its position in CommScope by 717.7% in the 1st quarter. GAMMA Investing LLC now owns 16,026 shares of the communications equipment provider's stock valued at $85,000 after buying an additional 14,066 shares during the period. 88.04% of the stock is 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.

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