CommScope (NASDAQ:COMM) Raised to “Outperform” at Credit Suisse Group

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CommScope (NASDAQ:COMM) was upgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Wolfe Research upped their price objective on CommScope from $23.00 to $20.00 in a research report on Friday, April 9th. Deutsche Bank Aktiengesellschaft raised CommScope from a “hold” rating to a “buy” rating and increased their target price for the company from $14.00 to $21.00 in a research report on Monday, April 19th. Morgan Stanley increased their target price on CommScope from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, January 25th. Rosenblatt Securities raised CommScope from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, April 14th. Finally, TheStreet upgraded CommScope from a “d+” rating to a “c-” rating in a research note on Wednesday, March 10th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. CommScope currently has an average rating of “Hold” and an average target price of $15.83.

Shares of COMM opened at $16.57 on Tuesday. The business has a fifty day moving average of $16.26 and a 200 day moving average of $13.82. CommScope has a one year low of $7.56 and a one year high of $17.97. The company has a debt-to-equity ratio of 37.74, a current ratio of 1.66 and a quick ratio of 1.12. The firm has a market capitalization of $3.37 billion, a P/E ratio of -2.97, a PEG ratio of 6.34 and a beta of 1.86.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Tuesday, February 16th. The communications equipment provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.22. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.20 billion. CommScope had a positive return on equity of 51.48% and a negative net margin of 12.02%. Analysts expect that CommScope will post 1.08 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. grew its position in shares of CommScope by 13,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,275 shares of the communications equipment provider’s stock valued at $44,000 after acquiring an additional 3,250 shares during the period. Signaturefd LLC boosted its holdings in CommScope by 1,500.9% in the 4th quarter. Signaturefd LLC now owns 3,666 shares of the communications equipment provider’s stock worth $49,000 after buying an additional 3,437 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in CommScope in the 4th quarter worth about $93,000. Caption Management LLC acquired a new stake in CommScope in the 4th quarter worth about $134,000. Finally, Meeder Asset Management Inc. acquired a new stake in CommScope in the 1st quarter worth about $162,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Home Networks (Home), Outdoor Wireless Networks (OWN), and Venue and Campus Networks (VCN).The Broadband segment provides a converged cable access platform, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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Analyst Recommendations for CommScope (NASDAQ:COMM)

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