Commscope (COMM) Downgraded by Longbow Research to Neutral

Share on StockTwits

Longbow Research downgraded shares of Commscope (NASDAQ:COMM) from a buy rating to a neutral rating in a research report report published on Friday morning, The Fly reports.

Several other brokerages have also commented on COMM. ValuEngine raised Commscope from a sell rating to a hold rating in a research report on Tuesday, July 31st. Goldman Sachs Group lowered Commscope from a buy rating to a neutral rating and set a $32.00 price objective for the company. in a research report on Tuesday, October 9th. BidaskClub lowered Commscope from a sell rating to a strong sell rating in a research report on Thursday, October 11th. Raymond James raised Commscope from a market perform rating to an outperform rating in a research report on Thursday. Finally, Credit Suisse Group set a $31.00 price objective on Commscope and gave the company a hold rating in a research report on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Commscope has a consensus rating of Hold and a consensus target price of $33.79.

COMM stock traded down $0.17 on Friday, reaching $19.39. The company’s stock had a trading volume of 5,264,759 shares, compared to its average volume of 2,740,782. Commscope has a 12-month low of $18.52 and a 12-month high of $41.60. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 1.34 and a beta of 1.23. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57.

Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 8th. The communications equipment provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). Commscope had a return on equity of 24.14% and a net margin of 4.43%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business earned $0.55 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Commscope will post 2.23 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in Commscope in the 3rd quarter worth about $1,945,000. DekaBank Deutsche Girozentrale lifted its position in shares of Commscope by 24.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 25,505 shares of the communications equipment provider’s stock valued at $834,000 after buying an additional 4,975 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Commscope in the 3rd quarter worth approximately $1,572,000. Staley Capital Advisers Inc. purchased a new position in Commscope in the 3rd quarter worth approximately $1,242,000. Finally, BlackRock Inc. lifted its holdings in Commscope by 2.8% in the 3rd quarter. BlackRock Inc. now owns 10,593,048 shares of the communications equipment provider’s stock worth $325,842,000 after purchasing an additional 290,848 shares in the last quarter.

About Commscope

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.

Featured Story: Swap

The Fly

Analyst Recommendations for Commscope (NASDAQ:COMM)

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Insureum Achieves Market Cap of $0.00
Insureum Achieves Market Cap of $0.00
Reviewing Geovax Labs  & Its Competitors
Reviewing Geovax Labs & Its Competitors
LPL Financial  Price Target Lowered to $66.00 at Morgan Stanley
LPL Financial Price Target Lowered to $66.00 at Morgan Stanley
Westaim  and Becton Dickinson and  Financial Contrast
Westaim and Becton Dickinson and Financial Contrast
Reviewing Heritage Global  and J2 Global
Reviewing Heritage Global and J2 Global
United Microelectronics  Stock Price Up 6.5%
United Microelectronics Stock Price Up 6.5%


Leave a Reply

© 2006-2018 Ticker Report