Commscope (NASDAQ:COMM) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Commscope (NASDAQ:COMM) from a sell rating to a strong sell rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research firms have also recently commented on COMM. JPMorgan Chase & Co. cut shares of Commscope from an overweight rating to a neutral rating and decreased their target price for the company from $17.00 to $12.00 in a research report on Sunday, April 19th. Morgan Stanley increased their target price on shares of Commscope from $9.00 to $13.00 and gave the company an overweight rating in a research report on Friday, May 8th. Raymond James cut their price target on shares of Commscope from $12.00 to $10.00 and set an outperform rating on the stock in a research note on Thursday. ValuEngine lowered shares of Commscope from a hold rating to a sell rating in a research note on Thursday, May 14th. Finally, Citigroup cut their price target on shares of Commscope from $12.00 to $10.00 and set a neutral rating on the stock in a research note on Monday, May 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $13.61.

NASDAQ:COMM opened at $8.32 on Friday. Commscope has a 52 week low of $5.50 and a 52 week high of $16.32. The firm has a 50 day moving average of $9.90 and a 200 day moving average of $11.26. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 16.91. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 6.21, a PEG ratio of 3.28 and a beta of 1.56.

Commscope (NASDAQ:COMM) last posted its earnings results on Thursday, May 7th. The communications equipment provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. Commscope had a negative net margin of 11.72% and a positive return on equity of 32.68%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. Commscope’s revenue for the quarter was up 84.9% compared to the same quarter last year. As a group, analysts expect that Commscope will post 0.96 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its position in Commscope by 11.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,388 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 1,276 shares during the last quarter. Royal Bank of Canada increased its position in Commscope by 2.6% during the first quarter. Royal Bank of Canada now owns 57,699 shares of the communications equipment provider’s stock worth $526,000 after purchasing an additional 1,476 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Commscope by 14.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 12,028 shares of the communications equipment provider’s stock valued at $110,000 after acquiring an additional 1,515 shares during the last quarter. US Bancorp DE increased its position in shares of Commscope by 72.7% during the first quarter. US Bancorp DE now owns 5,069 shares of the communications equipment provider’s stock valued at $46,000 after acquiring an additional 2,134 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Commscope by 14.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,000 shares of the communications equipment provider’s stock valued at $241,000 after acquiring an additional 2,182 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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Analyst Recommendations for Commscope (NASDAQ:COMM)

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