CommScope (NASDAQ: COMM – Get Rating) had its price target lowered by Evercore ISI from $ 8.00 to $ 7.00 in a research report released on Tuesday, The Fly reports. The firm currently has an in-line rating on the communications equipment provider’s stock.
Other analysts have also recently issued reports about the stock. Citigroup reduced their price objective on shares of CommScope from $ 8.50 to $ 6.00 in a research note on Friday, May 6th. Morgan Stanley cut their target price on shares of CommScope from $ 14.00 to $ 9.00 and set an overweight rating for the company in a research note on Tuesday, April 12th. Bank of America cut shares of CommScope from a neutral rating to an underperform rating and cut their target price for the company from $ 12.00 to $ 8.00 in a research note on Friday, March 25th. StockNews.com began coverage on shares of CommScope in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, The Goldman Sachs Group cut shares of CommScope from a buy rating to a neutral rating and cut their target price for the company from $ 18.00 to $ 9.00 in a research note on Friday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, CommScope has an average rating of Hold and a consensus price target of $ 9.44.
Shares of CommScope stock opened at $ 6.45 on Tuesday. The company has a market cap of $ 1.34 billion, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 0.18 and a beta of 1.67. The company 50 day moving average is $ 7.06 and its 200 day moving average is $ 8.40. CommScope has a twelve month low of $ 5.94 and a twelve month high of $ 22.18.
CommScope (NASDAQ: COMM – Get Rating) last announced its earnings results on Thursday, May 5th. The communications equipment provider reported $ 0.20 EPS for the quarter, beating analysts’ consensus estimates of $ 0.15 by $ 0.05. The business had revenue of $ 2.23 billion during the quarter, compared to analysts’ expectations of $ 2.07 billion. CommScope had a negative net margin of 5.78% and a negative return on equity of 235.45%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $ 0.27 earnings per share. As a group, equities research analysts predict that CommScope will post 1.35 earnings per share for the current fiscal year.
In other news, SVP Farid Firouzbakht bought 10,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average price of $ 6.97 per share, for a total transaction of $ 69,700.00. Following the acquisition, the senior vice president now owns 149,824 shares of the company stock, valued at $ 1,044,273.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kyle David Lorentzen bought 17,887 shares of the stock in a transaction dated Friday, June 3rd. The stock was purchased at an average price of $ 8.11 per share, with a total value of $ 145,063.57. Following the acquisition, the chief financial officer now directly owns 209,398 shares in the company, valued at approximately $ 1,698,217.78. The disclosure for this purchase can be found here. Insiders have acquired 87,814 shares of company stock valued at $ 714,555 in the last quarter. 2.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc lifted its holdings in CommScope by 63.5% during the 4th quarter. Ensign Peak Advisors Inc now owns 30,150 shares of the communications equipment provider’s stock valued at $ 333,000 after buying an additional 11,715 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in CommScope by 64.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 290,147 shares of the communications equipment provider’s stock valued at $ 3,203,000 after purchasing an additional 113,565 shares during the period. Virginia Retirement Systems ET AL increased its position in CommScope by 37.9% during the 4th quarter. Virginia Retirement Systems ET AL now owns 20,000 shares of the communications equipment provider’s stock valued at $ 221,000 after purchasing an additional 5,500 shares during the period. Charles Schwab Investment Management Inc. increased its position in CommScope by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,172,135 shares of the communications equipment provider’s stock valued at $ 23,981,000 after purchasing an additional 69,527 shares during the period. Finally, Renaissance Technologies LLC increased its position in CommScope by 35.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,602,954 shares of the communications equipment provider’s stock valued at $ 17,697,000 after purchasing an additional 420,354 shares during the period. Institutional investors own 92.71% of the company stock.
CommScope Company Profile: (Get Rating)
CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.
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