Citigroup Raises Commscope (COMM) Price Target to $45.00
Commscope (NASDAQ:COMM) had its price target boosted by equities researchers at Citigroup to $45.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Citigroup’s price target suggests a potential upside of 17.77% from the company’s current price.
A number of other analysts have also issued reports on the company. BidaskClub lowered Commscope from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. ValuEngine raised Commscope from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Northland Securities restated a “hold” rating on shares of Commscope in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Commscope from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Jefferies Group restated a “buy” rating and issued a $40.00 price target on shares of Commscope in a research note on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $40.80.
Commscope (COMM) opened at $38.21 on Thursday. The firm has a market capitalization of $7,290.00, a P/E ratio of 38.60, a PEG ratio of 2.49 and a beta of 1.20. Commscope has a twelve month low of $30.95 and a twelve month high of $42.75. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93.
Commscope (NASDAQ:COMM) last issued its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Commscope had a return on equity of 29.11% and a net margin of 4.21%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. research analysts predict that Commscope will post 2.01 earnings per share for the current year.
In other Commscope news, insider Marvin S. Edwards, Jr. sold 50,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $36.45, for a total value of $1,822,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Drendel sold 15,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $38.02, for a total transaction of $570,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,284 shares of company stock valued at $4,874,245. Insiders own 3.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Krilogy Financial LLC boosted its stake in Commscope by 5.7% in the second quarter. Krilogy Financial LLC now owns 3,170 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 170 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Commscope in the second quarter valued at about $216,000. Taurus Asset Management LLC purchased a new stake in shares of Commscope in the third quarter valued at about $222,000. Nordea Investment Management AB purchased a new stake in shares of Commscope in the second quarter valued at about $235,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of Commscope in the third quarter valued at about $252,000.
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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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