Commscope (NASDAQ:COMM) Given “Hold” Rating at Raymond James

Commscope (NASDAQ:COMM)‘s stock had its “hold” rating reissued by equities research analysts at Raymond James in a research note issued to investors on Thursday, AnalystRatings.com reports.

Several other research analysts have also commented on the company. Zacks Investment Research raised Commscope from a “strong sell” rating to a “hold” rating and set a $12.00 price target for the company in a research report on Tuesday, August 11th. Wolfe Research assumed coverage on shares of Commscope in a research report on Friday, July 24th. They set an “outperform” rating and a $15.00 target price for the company. ValuEngine raised shares of Commscope from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Deutsche Bank started coverage on Commscope in a research note on Thursday, September 10th. They set a “hold” rating and a $12.00 price objective for the company. Finally, Northland Securities started coverage on shares of Commscope in a report on Wednesday, June 24th. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.25.

NASDAQ:COMM traded up $0.03 during mid-day trading on Thursday, reaching $9.03. The company’s stock had a trading volume of 4,726,733 shares, compared to its average volume of 4,253,979. The company has a quick ratio of 1.27, a current ratio of 1.75 and a debt-to-equity ratio of 33.18. Commscope has a 1 year low of $5.50 and a 1 year high of $15.79. The stock has a fifty day moving average of $9.88 and a 200-day moving average of $9.47. The firm has a market capitalization of $1.77 billion, a PE ratio of -1.56, a price-to-earnings-growth ratio of 3.25 and a beta of 1.69.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.10 by $0.22. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.06 billion. Commscope had a negative net margin of 12.19% and a positive return on equity of 33.85%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts expect that Commscope will post 0.97 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. lifted its stake in Commscope by 16.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock worth $2,109,000 after purchasing an additional 13,824 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Commscope by 7.9% during the first quarter. Bank of New York Mellon Corp now owns 722,945 shares of the communications equipment provider’s stock worth $6,586,000 after purchasing an additional 53,222 shares during the period. State Street Corp lifted its position in shares of Commscope by 3.3% during the first quarter. State Street Corp now owns 2,755,462 shares of the communications equipment provider’s stock worth $25,102,000 after purchasing an additional 87,486 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Commscope by 80.5% in the first quarter. Principal Financial Group Inc. now owns 21,065 shares of the communications equipment provider’s stock valued at $192,000 after purchasing an additional 9,394 shares during the period. Finally, US Bancorp DE grew its stake in shares of Commscope by 72.7% in the first quarter. US Bancorp DE now owns 5,069 shares of the communications equipment provider’s stock worth $46,000 after acquiring an additional 2,134 shares in the last quarter. Institutional investors own 94.50% 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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