Commscope (COMM) Reaches New 12-Month Low at $16.79

Commscope Holding Company Inc (NASDAQ:COMM)’s share price hit a new 52-week low on Friday . The company traded as low as $16.79 and last traded at $16.80, with a volume of 88120 shares traded. The stock had previously closed at $17.07.

COMM has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Commscope from a “hold” rating to a “buy” rating and set a $18.20 price target on the stock in a research report on Sunday, December 2nd. Zacks Investment Research cut shares of Commscope from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 15th. Goldman Sachs Group cut shares of Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Tuesday, October 9th. ValuEngine cut shares of Commscope from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 6th. Finally, BidaskClub cut shares of Commscope from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $32.02.

The company has a current ratio of 2.44, a quick ratio of 1.80 and a debt-to-equity ratio of 2.27. The firm has a market capitalization of $3.23 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16.

Commscope (NASDAQ:COMM) last issued its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.07). Commscope had a return on equity of 23.68% and a net margin of 4.69%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that Commscope Holding Company Inc will post 1.96 EPS for the current fiscal year.

In other Commscope news, CFO Alexander W. Pease purchased 40,000 shares of the stock in a transaction on Thursday, November 15th. The shares were purchased at an average cost of $18.70 per share, for a total transaction of $748,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert W. Granow purchased 4,000 shares of the stock in a transaction on Monday, November 12th. The stock was acquired at an average price of $19.60 per share, for a total transaction of $78,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 76,500 shares of company stock worth $1,442,400. 3.35% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of COMM. Capital International Investors acquired a new stake in Commscope in the 3rd quarter valued at $288,437,000. Franklin Resources Inc. increased its stake in Commscope by 42.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,018,037 shares of the communications equipment provider’s stock valued at $492,630,000 after buying an additional 4,769,769 shares during the last quarter. Blue Harbour Group L.P. increased its stake in Commscope by 23.3% in the 2nd quarter. Blue Harbour Group L.P. now owns 9,538,090 shares of the communications equipment provider’s stock valued at $278,560,000 after buying an additional 1,800,000 shares during the last quarter. Sound Shore Management Inc. CT acquired a new stake in Commscope in the 3rd quarter valued at $54,841,000. Finally, Prudential Financial Inc. increased its stake in Commscope by 383.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,563,840 shares of the communications equipment provider’s stock valued at $48,104,000 after buying an additional 1,240,300 shares during the last quarter.

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Commscope Company Profile (NASDAQ:COMM)

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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