Commscope (COMM) Downgraded to Buy at BidaskClub

BidaskClub cut shares of Commscope (NASDAQ:COMM) from a strong-buy rating to a buy rating in a research report report published on Wednesday, December 20th.

A number of other equities analysts have also recently issued reports on the company. Jefferies Group reissued a buy rating and issued a $40.00 target price on shares of Commscope in a report on Thursday, October 12th. ValuEngine lowered Commscope from a buy rating to a hold rating in a research report on Saturday, November 4th. Zacks Investment Research lowered Commscope from a buy rating to a hold rating in a research report on Tuesday, November 7th. Northland Securities restated a hold rating on shares of Commscope in a research report on Friday, November 10th. Finally, Citigroup increased their price target on Commscope from $39.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $40.80.

Shares of Commscope (NASDAQ:COMM) traded up $0.63 on Wednesday, hitting $38.84. The stock had a trading volume of 2,242,258 shares, compared to its average volume of 1,470,000. Commscope has a fifty-two week low of $30.95 and a fifty-two week high of $42.75. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.10 and a current ratio of 2.78. The firm has a market cap of $7,410.00, a PE ratio of 39.23, a PEG ratio of 2.49 and a beta of 1.20.

Commscope (NASDAQ:COMM) last issued its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm posted $0.81 EPS. Commscope’s quarterly revenue was down 12.8% compared to the same quarter last year. analysts anticipate that Commscope will post 2.01 earnings per share for the current fiscal year.

In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $38.66, for a total value of $1,933,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank M. Drendel sold 60,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.01, for a total value of $2,280,600.00. The disclosure for this sale can be found here. Insiders sold a total of 180,284 shares of company stock worth $6,807,245 over the last quarter. Corporate insiders own 3.33% of the company’s stock.

Several hedge funds have recently bought and sold shares of COMM. Capital Research Global Investors lifted its stake in shares of Commscope by 478.2% in the 2nd quarter. Capital Research Global Investors now owns 14,502,567 shares of the communications equipment provider’s stock valued at $551,533,000 after purchasing an additional 11,994,126 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Commscope in the 2nd quarter valued at $128,505,000. JPMorgan Chase & Co. lifted its stake in shares of Commscope by 54.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,307,534 shares of the communications equipment provider’s stock valued at $315,936,000 after purchasing an additional 2,930,632 shares during the period. BlackRock Inc. lifted its stake in shares of Commscope by 19.0% in the 2nd quarter. BlackRock Inc. now owns 15,275,547 shares of the communications equipment provider’s stock valued at $580,929,000 after purchasing an additional 2,438,894 shares during the period. Finally, Harris Associates L P lifted its stake in shares of Commscope by 58.6% in the 2nd quarter. Harris Associates L P now owns 6,390,730 shares of the communications equipment provider’s stock valued at $243,039,000 after purchasing an additional 2,361,663 shares during the period.

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Commscope Company Profile

CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.

Analyst Recommendations for Commscope (NASDAQ:COMM)

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