Goldman Sachs Group Lowers Commscope (COMM) to Neutral

Commscope (NASDAQ:COMM) was downgraded by stock analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports. They currently have a $32.00 price target on the communications equipment provider’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 17.35% from the company’s current price.

Several other research analysts have also issued reports on the stock. Nomura lowered shares of Commscope from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $31.00 in a research report on Friday. Cross Research raised shares of Commscope from a “hold” rating to a “buy” rating in a research report on Thursday, October 4th. ValuEngine raised shares of Commscope from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. BidaskClub raised shares of Commscope from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Zacks Investment Research lowered shares of Commscope from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Commscope currently has an average rating of “Hold” and a consensus price target of $34.88.

NASDAQ:COMM traded down $0.60 during mid-day trading on Tuesday, hitting $27.27. The company’s stock had a trading volume of 20,882 shares, compared to its average volume of 1,629,207. Commscope has a fifty-two week low of $26.29 and a fifty-two week high of $41.60. The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $5.91 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99.

Commscope (NASDAQ:COMM) last posted its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Commscope will post 2.23 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of COMM. Blue Harbour Group L.P. increased its holdings in shares of Commscope by 45.8% during the first quarter. Blue Harbour Group L.P. now owns 7,738,090 shares of the communications equipment provider’s stock worth $309,291,000 after buying an additional 2,431,500 shares in the last quarter. FMR LLC grew its stake in shares of Commscope by 14.2% during the second quarter. FMR LLC now owns 9,423,293 shares of the communications equipment provider’s stock valued at $275,208,000 after purchasing an additional 1,168,575 shares during the last quarter. BlackRock Inc. grew its stake in shares of Commscope by 9.4% during the second quarter. BlackRock Inc. now owns 10,302,200 shares of the communications equipment provider’s stock valued at $300,874,000 after purchasing an additional 884,773 shares during the last quarter. Tobam bought a new stake in shares of Commscope during the second quarter valued at approximately $14,555,000. Finally, Makaira Partners LLC grew its stake in shares of Commscope by 33.0% during the second quarter. Makaira Partners LLC now owns 1,821,309 shares of the communications equipment provider’s stock valued at $53,191,000 after purchasing an additional 451,611 shares during the last quarter.

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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