Commscope Holding Company Inc (NASDAQ:COMM) shares fell 4.4% during trading on Thursday . The stock traded as low as $10.66 and last traded at $10.25, 2,445,326 shares were traded during trading. A decline of 38% from the average session volume of 3,933,881 shares. The stock had previously closed at $10.72.
Several brokerages have recently commented on COMM. Deutsche Bank set a $28.00 target price on shares of Commscope and gave the stock a “buy” rating in a report on Friday, August 9th. Bank of America lowered their target price on shares of Commscope from $26.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group lowered their target price on shares of Commscope from $28.50 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Nomura lowered their target price on shares of Commscope from $24.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Commscope in a report on Monday, April 22nd. They set an “overweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Commscope has a consensus rating of “Hold” and a consensus target price of $19.77.
The business’s 50 day moving average is $14.43 and its 200-day moving average is $19.44. The firm has a market capitalization of $2.01 billion, a P/E ratio of 4.91, a PEG ratio of 0.33 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 2.01 and a debt-to-equity ratio of 4.28.
Commscope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Commscope had a negative net margin of 5.03% and a positive return on equity of 23.91%. The firm’s quarterly revenue was up 107.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Research analysts forecast that Commscope Holding Company Inc will post 1.96 EPS for the current fiscal year.
In related news, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $15.84, for a total value of $1,279,872.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Bruce William Mcclelland acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $63,000.00. The disclosure for this purchase can be found here. Company insiders own 3.25% of the company’s stock.
A number of institutional investors have recently modified their holdings of COMM. Steward Partners Investment Advisory LLC acquired a new stake in Commscope in the second quarter valued at approximately $43,000. Advisor Group Inc. boosted its position in Commscope by 256.3% in the second quarter. Advisor Group Inc. now owns 4,482 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 3,224 shares in the last quarter. Machina Capital S.A.S. boosted its position in Commscope by 174.1% in the second quarter. Machina Capital S.A.S. now owns 5,236 shares of the communications equipment provider’s stock valued at $82,000 after buying an additional 3,326 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Commscope in the second quarter valued at approximately $115,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Commscope by 16.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,052 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.
About Commscope (NASDAQ:COMM)
CommScope Holding Company, Inc provides infrastructure solutions for communications networks worldwide. The company's CommScope Connectivity Solutions segment offers optical fiber and twisted pair structured cable solutions, intelligent infrastructure software, and network rack and cabinet enclosures under the SYSTIMAX, NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, pre-terminated fiber connectivity, complete cabling systems, and cable assemblies for use in offices and data centers.
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