CommScope Holding Company, Inc. (NASDAQ:COMM) Receives $10.89 Consensus Target Price from Analysts

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM – Get Rating) have earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.89.

Several equities analysts have commented on COMM shares. Evercore ISI downgraded CommScope from an “outperform” rating to an “in-line” rating and set a $12.00 price objective on the stock. in a research report on Monday, January 10th. StockNews.com initiated coverage on CommScope in a report on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America cut CommScope from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $12.00 to $8.00 in a research note on Friday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on CommScope from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. Finally, Zacks Investment Research upgraded CommScope from a “strong sell” rating to a “hold” rating and set a $14.00 price objective for the company in a research note on Wednesday, January 5th.

NASDAQ COMM opened at $6.54 on Monday. The stock’s 50 day moving average is $7.45 and its 200 day moving average is $9.32. CommScope has a 12 month low of $5.94 and a 12 month high of $22.18. The stock has a market cap of $1.34 billion, a PE ratio of -2.56, a P/E/G ratio of 0.18 and a beta of 1.69.

CommScope (NASDAQ:COMM – Get Rating) last released its quarterly earnings data on Thursday, February 17th. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.04 billion. CommScope had a positive return on equity of 3,196.61% and a negative net margin of 5.39%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts predict that CommScope will post 1.33 earnings per share for the current fiscal year.

In related news, Director Claudius E. Iv Watts purchased 6,000 shares of CommScope stock in a transaction dated Friday, March 4th. The shares were acquired at an average price of $8.87 per share, for a total transaction of $53,220.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Derrick A. Roman purchased 7,500 shares of CommScope stock in a transaction dated Friday, February 25th. The shares were bought at an average price of $9.96 per share, for a total transaction of $74,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 28,500 shares of company stock worth $251,500 in the last 90 days. 2.40% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Chartwell Investment Partners LLC grew its position in CommScope by 112.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 144,949 shares of the communications equipment provider’s stock valued at $1,970,000 after acquiring an additional 76,816 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in CommScope by 64.3% in 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 acquiring an additional 113,565 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in CommScope by 37.9% in 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 acquiring an additional 5,500 shares in the last quarter. Goldman Sachs Group Inc. grew its position in CommScope by 5.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 772,754 shares of the communications equipment provider’s stock valued at $10,502,000 after acquiring an additional 43,235 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its position in CommScope by 128.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 281,951 shares of the communications equipment provider’s stock valued at $3,113,000 after acquiring an additional 158,634 shares in the last quarter. 92.71% of the stock is owned by hedge funds and other institutional investors.

About CommScope (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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