CommScope (NASDAQ:COMM) Cut to Underperform at Raymond James

Raymond James cut shares of CommScope (NASDAQ:COMM) from a market perform rating to an underperform rating in a report issued 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 for the company. in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.50.

CommScope Stock Performance

Shares of CommScope stock opened at $5.18 on Monday. The company has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $4.41. The stock has a market capitalization of $1.12 billion, a PE ratio of -1.17 and a beta of 1.92. CommScope has a 52-week low of $0.86 and a 52-week high of $7.19.

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

Institutional Investors Weigh In On CommScope

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in CommScope by 3.1% in the third quarter. Geode Capital Management LLC now owns 5,111,866 shares of the communications equipment provider’s stock worth $31,239,000 after buying an additional 155,166 shares in the last quarter. Millennium Management LLC increased its holdings in CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider’s stock worth $6,242,000 after acquiring an additional 840,742 shares in the last quarter. State Street Corp raised its stake in CommScope by 9.2% during the 3rd quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider’s stock worth $28,034,000 after acquiring an additional 387,466 shares during the period. Two Sigma Advisers LP lifted its holdings in CommScope by 29.3% during the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after purchasing an additional 975,200 shares in the last quarter. Finally, Monarch Alternative Capital LP bought a new position in shares of CommScope in the third quarter worth approximately $16,623,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About CommScope

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.