Commscope (NASDAQ:COMM) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Commscope (NASDAQ:COMM) in a research note published on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an inline rating and a $12.00 target price on the communications equipment provider’s stock.

A number of other research analysts have also recently weighed in on the company. Deutsche Bank set a $28.00 price objective on Commscope and gave the company a buy rating in a research report on Friday, August 9th. Nomura lowered their price objective on Commscope from $24.00 to $17.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Bank of America decreased their target price on Commscope from $26.00 to $16.00 and set a neutral rating on the stock in a research note on Friday, August 9th. Credit Suisse Group decreased their target price on Commscope from $27.00 to $23.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Finally, BidaskClub raised Commscope from a strong sell rating to a sell rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Commscope has an average rating of Hold and an average price target of $19.13.

Shares of COMM stock traded down $0.59 during trading hours on Wednesday, reaching $12.61. 5,543,325 shares of the company traded hands, compared to its average volume of 3,063,271. Commscope has a 12-month low of $9.52 and a 12-month high of $31.35. The company has a debt-to-equity ratio of 7.23, a current ratio of 1.88 and a quick ratio of 1.27. The company has a market cap of $2.43 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.39 and a beta of 1.50. The firm has a 50-day moving average price of $12.00 and a 200 day moving average price of $17.99.



Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.16. Commscope had a positive return on equity of 25.08% and a negative net margin of 5.03%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 107.0% on a year-over-year basis. Sell-side analysts predict that Commscope will post 1.87 EPS for the current year.

In other news, Director L William Krause acquired 21,250 shares of Commscope stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $11.87 per share, with a total value of $252,237.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank M. Drendel sold 80,800 shares of Commscope stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $15.84, for a total value of $1,279,872.00. The disclosure for this sale can be found here. 3.25% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in Commscope by 132.0% in the 2nd quarter. Boston Partners now owns 474,348 shares of the communications equipment provider’s stock worth $7,462,000 after acquiring an additional 269,920 shares during the last quarter. Indaba Capital Management L.P. increased its stake in Commscope by 22.9% in the 2nd quarter. Indaba Capital Management L.P. now owns 1,574,776 shares of the communications equipment provider’s stock worth $24,771,000 after acquiring an additional 293,000 shares during the last quarter. Maverick Capital Ltd. increased its stake in Commscope by 84.4% in the 2nd quarter. Maverick Capital Ltd. now owns 18,511,826 shares of the communications equipment provider’s stock worth $291,191,000 after acquiring an additional 8,470,190 shares during the last quarter. Royal Bank of Canada increased its stake in Commscope by 100.4% in the 2nd quarter. Royal Bank of Canada now owns 74,815 shares of the communications equipment provider’s stock worth $1,177,000 after acquiring an additional 37,477 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Commscope by 7.7% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 104,526 shares of the communications equipment provider’s stock worth $1,644,000 after acquiring an additional 7,470 shares during the last quarter. 98.46% of the stock is currently owned by institutional investors and hedge funds.

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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