BidaskClub Lowers Commscope (NASDAQ:COMM) to Strong Sell

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

Other analysts have also recently issued reports about the company. Raymond James cut Commscope from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded 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. Deutsche Bank assumed coverage on Commscope in a research report on Thursday, September 10th. They set a “hold” rating and a $12.00 price target for the company. Wolfe Research assumed coverage on Commscope in a research report on Friday, July 24th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Credit Suisse Group boosted their price target on Commscope from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.25.

Commscope stock opened at $9.66 on Tuesday. The stock has a market capitalization of $1.90 billion, a PE ratio of -1.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.69. Commscope has a 12 month low of $5.50 and a 12 month high of $15.79. The business has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $9.56. The company has a debt-to-equity ratio of 33.18, a current ratio of 1.75 and a quick ratio of 1.27.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Amundi Pioneer Asset Management Inc. boosted 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 buying an additional 13,824 shares during the last quarter. Comerica Bank lifted its stake in shares of Commscope by 24.3% in the 1st quarter. Comerica Bank now owns 33,727 shares of the communications equipment provider’s stock valued at $360,000 after purchasing an additional 6,595 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Commscope in the 1st quarter valued at $273,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Commscope by 4.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 206,902 shares of the communications equipment provider’s stock valued at $1,885,000 after purchasing an additional 9,188 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of Commscope in the 1st quarter valued at $415,000. 94.50% of the stock is currently owned by institutional investors.

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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