Commscope (COMM) Downgraded by ValuEngine to Strong Sell

Commscope (NASDAQ:COMM) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Tuesday.

A number of other equities analysts have also recently commented on COMM. BidaskClub cut shares of Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Credit Suisse Group set a $31.00 target price on shares of Commscope and gave the stock a “hold” rating in a research report on Wednesday, July 18th. Northland Securities set a $36.00 target price on shares of Commscope and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Rosenblatt Securities reiterated a “hold” rating and issued a $32.00 target price on shares of Commscope in a research report on Sunday, August 5th. Finally, Jefferies Financial Group cut shares of Commscope from a “buy” rating to a “hold” rating and decreased their target price for the stock from $35.00 to $30.50 in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.88.

Shares of Commscope stock traded down $5.20 on Tuesday, hitting $19.29. 14,623,762 shares of the company traded hands, compared to its average volume of 2,545,107. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.16 and a current ratio of 2.77. The stock has a market cap of $4.76 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. Commscope has a 12-month low of $23.14 and a 12-month high of $41.60.

Commscope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.07). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Commscope had a net margin of 4.43% and a return on equity of 24.14%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. On average, analysts predict that Commscope will post 2.23 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Olstein Capital Management L.P. grew its holdings in Commscope by 97.3% in the 2nd quarter. Olstein Capital Management L.P. now owns 268,300 shares of the communications equipment provider’s stock worth $7,836,000 after acquiring an additional 132,300 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in Commscope by 9.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 192,426 shares of the communications equipment provider’s stock worth $5,620,000 after acquiring an additional 16,231 shares during the last quarter. Bank of America Corp DE grew its holdings in Commscope by 24.2% in the 2nd quarter. Bank of America Corp DE now owns 613,362 shares of the communications equipment provider’s stock worth $17,914,000 after acquiring an additional 119,617 shares during the last quarter. BB&T Securities LLC grew its holdings in Commscope by 80.5% in the 2nd quarter. BB&T Securities LLC now owns 34,515 shares of the communications equipment provider’s stock worth $1,008,000 after acquiring an additional 15,388 shares during the last quarter. Finally, Jabodon PT Co. bought a new stake in Commscope in the 3rd quarter worth $3,140,000.

About Commscope

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.

Read More: Return on Investment (ROI) Defined, Explained

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Commscope (NASDAQ:COMM)

Receive News & Ratings for Commscope Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commscope and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply