CommScope (NASDAQ:COMM) Downgraded to Underweight Rating by Morgan Stanley

CommScope (NASDAQ:COMM) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They presently have a $5.00 target price on the communications equipment provider’s stock. Morgan Stanley’s target price points to a potential downside of 13.79% from the company’s current price.

CommScope Trading Up 1.0 %

NASDAQ:COMM opened at $5.80 on Tuesday. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -1.31 and a beta of 1.95. The firm’s fifty day simple moving average is $5.54 and its 200 day simple moving average is $3.95.

CommScope (NASDAQ:COMM) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. CommScope’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, analysts predict that CommScope will post -0.77 earnings per share for the current year.

Hedge Funds Weigh In On CommScope

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope in the 3rd quarter valued at approximately $31,000. National Bank of Canada FI increased its stake in shares of CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares during the last quarter. Quarry LP raised its holdings in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares in the last quarter. Belvedere Trading LLC acquired a new position in CommScope during the 3rd quarter worth $68,000. Finally, Creative Planning bought a new stake in shares of CommScope in the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

About CommScope

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.