Northland Securities reiterated their hold rating on shares of Commscope (NASDAQ:COMM) in a research report sent to investors on Friday morning. Northland Securities currently has a $33.00 target price on the communications equipment provider’s stock.
A number of other brokerages have also issued reports on COMM. Longbow Research upgraded Commscope from a neutral rating to a buy rating in a research report on Friday, January 26th. Barclays upgraded Commscope from an equal weight rating to an overweight rating and increased their target price for the company from $42.00 to $43.00 in a research report on Wednesday. BidaskClub lowered Commscope from a strong-buy rating to a buy rating in a research report on Wednesday, December 20th. Citigroup increased their target price on Commscope from $39.00 to $40.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Finally, ValuEngine lowered Commscope from a buy rating to a hold rating in a research report on Saturday, November 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $41.67.
Shares of Commscope (NASDAQ:COMM) traded down $0.24 during trading hours on Friday, hitting $39.02. The stock had a trading volume of 2,660,000 shares, compared to its average volume of 1,920,000. Commscope has a 52-week low of $30.95 and a 52-week high of $42.75. The stock has a market cap of $7,400.00, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 2.93.
Commscope (NASDAQ:COMM) last announced its earnings results on Thursday, February 15th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Commscope had a return on equity of 26.71% and a net margin of 4.25%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.61 EPS. The business’s revenue was down 5.0% on a year-over-year basis. analysts forecast that Commscope will post 2.48 earnings per share for the current year.
In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $36.45, for a total value of $1,822,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank M. Drendel sold 60,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $38.01, for a total value of $2,280,600.00. The disclosure for this sale can be found here. Insiders sold a total of 180,284 shares of company stock worth $6,807,245 in the last 90 days. 3.33% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Commscope by 338.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,944 shares of the communications equipment provider’s stock valued at $149,000 after purchasing an additional 3,044 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Commscope in the 4th quarter worth $161,000. Koch Industries Inc. acquired a new stake in shares of Commscope in the 4th quarter worth $201,000. Taurus Asset Management LLC acquired a new stake in shares of Commscope in the 3rd quarter worth $222,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Commscope in the 4th quarter worth $224,000.
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CommScope Holding Company, Inc (CommScope) is a provider of infrastructure solutions for the core, access and edge layers of communications networks. The Company operates through two segments: CommScope Connectivity Solutions (CCS) and CommScope Mobility Solutions (CMS). Its portfolio includes wireless and fiber optic solutions.
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