CommScope (NASDAQ:COMM) Rating Lowered to Underperform at Raymond James

CommScope (NASDAQ:COMM) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a research note issued to investors on Monday, Marketbeat.com reports.

Separately, Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $2.50.

CommScope Trading Down 3.9 %

CommScope stock opened at $5.13 on Monday. The stock has a fifty day moving average price of $5.35 and a 200 day moving average price of $4.40. CommScope has a 52 week low of $0.86 and a 52 week high of $7.19. The firm has a market capitalization of $1.11 billion, a P/E ratio of -1.16 and a beta of 1.92.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that CommScope will post -0.77 EPS for the current year.

Institutional Trading of CommScope

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in shares of CommScope by 415.0% during the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock worth $1,150,000 after purchasing an additional 151,640 shares in the last quarter. Monarch Alternative Capital LP purchased a new position in CommScope in the 3rd quarter worth approximately $16,623,000. XTX Topco Ltd grew its position in CommScope by 263.1% in the second quarter. XTX Topco Ltd now owns 198,264 shares of the communications equipment provider’s stock valued at $244,000 after acquiring an additional 143,654 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in CommScope in the second quarter valued at approximately $144,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of CommScope during the third quarter valued at approximately $894,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.