Commscope (COMM) Lowered to “Strong Sell” at BidaskClub

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Commscope (NASDAQ:COMM) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other research analysts have also recently commented on the company. Credit Suisse Group set a $20.00 target price on Commscope and gave the company a “neutral” rating in a research note on Thursday, December 20th. Morgan Stanley cut their target price on Commscope from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. Jefferies Financial Group raised Commscope from a “hold” rating to a “buy” rating and cut their target price for the company from $30.50 to $28.50 in a research note on Monday, November 26th. ValuEngine raised Commscope from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Rosenblatt Securities reaffirmed a “hold” rating and set a $24.00 target price on shares of Commscope in a research note on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.43.

COMM opened at $21.80 on Friday. The company has a market cap of $4.21 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. Commscope has a one year low of $15.09 and a one year high of $41.60. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 2.27.

Commscope (NASDAQ:COMM) last released its earnings results on Thursday, February 21st. The communications equipment provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Commscope had a return on equity of 23.55% and a net margin of 3.07%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, equities research analysts predict that Commscope will post 2.02 earnings per share for the current year.

In related news, SVP Peter U. Karlsson sold 6,517 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.63, for a total value of $147,479.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank M. Drendel sold 280,143 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $23.61, for a total value of $6,614,176.23. The disclosure for this sale can be found here. 3.35% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Commscope by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 2,092,326 shares of the communications equipment provider’s stock valued at $34,272,000 after purchasing an additional 153,499 shares during the period. Norges Bank purchased a new stake in shares of Commscope in the fourth quarter valued at approximately $29,617,000. Dimensional Fund Advisors LP boosted its holdings in shares of Commscope by 24.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,780,801 shares of the communications equipment provider’s stock valued at $29,187,000 after purchasing an additional 350,675 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Commscope by 4.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 87,592 shares of the communications equipment provider’s stock valued at $1,436,000 after purchasing an additional 3,982 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Commscope by 24.6% in the fourth quarter. Legal & General Group Plc now owns 362,551 shares of the communications equipment provider’s stock valued at $5,943,000 after purchasing an additional 71,671 shares during the period. Hedge funds and other institutional investors own 99.09% of the company’s stock.

Commscope Company Profile

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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Analyst Recommendations for Commscope (NASDAQ:COMM)

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