Credit Suisse Group reiterated their buy rating on shares of Commscope (NASDAQ:COMM) in a report published on Friday, Stock Target Advisor reports. Credit Suisse Group currently has a $21.00 target price on the communications equipment provider’s stock.
Other research analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Commscope from a buy rating to a hold rating and decreased their price target for the company from $16.00 to $14.50 in a research note on Tuesday, December 3rd. Rosenblatt Securities downgraded shares of Commscope from a buy rating to a neutral rating and cut their price objective for the company from $16.00 to $13.00 in a report on Tuesday, October 29th. Evercore ISI reiterated a hold rating and issued a $14.00 price objective on shares of Commscope in a report on Monday, November 11th. Nomura reiterated a buy rating on shares of Commscope in a report on Tuesday, December 17th. Finally, BidaskClub downgraded shares of Commscope from a sell rating to a strong sell rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Commscope presently has an average rating of Hold and a consensus price target of $17.00.
Shares of Commscope stock opened at $11.82 on Friday. The firm has a market capitalization of $2.45 billion, a PE ratio of -2.35, a P/E/G ratio of 0.45 and a beta of 1.79. Commscope has a twelve month low of $9.52 and a twelve month high of $27.00. The firm’s 50-day moving average price is $13.58 and its 200 day moving average price is $12.74. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 11.72.
Commscope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, February 20th. The communications equipment provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.21. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.28 billion. Commscope had a negative net margin of 11.14% and a positive return on equity of 31.35%. Commscope’s quarterly revenue was up 117.3% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. On average, sell-side analysts predict that Commscope will post 1.87 EPS for the current fiscal year.
In other Commscope news, Director Frank M. Drendel sold 95,334 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $13.19, for a total value of $1,257,455.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.25% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Commscope by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,362,683 shares of the communications equipment provider’s stock worth $33,526,000 after buying an additional 216,159 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of Commscope during the 4th quarter worth approximately $3,645,000. Alliancebernstein L.P. increased its holdings in shares of Commscope by 9.1% during the 4th quarter. Alliancebernstein L.P. now owns 118,008 shares of the communications equipment provider’s stock worth $1,675,000 after buying an additional 9,870 shares during the last quarter. Man Group plc increased its holdings in shares of Commscope by 521.3% during the 4th quarter. Man Group plc now owns 93,195 shares of the communications equipment provider’s stock worth $1,323,000 after buying an additional 78,195 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Commscope by 85.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 378,607 shares of the communications equipment provider’s stock worth $5,372,000 after buying an additional 174,900 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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