Commscope Holding Company Inc (NASDAQ:COMM) was the recipient of a significant decline in short interest during the month of November. As of November 29th, there was short interest totalling 12,760,000 shares, a decline of 8.8% from the November 14th total of 13,990,000 shares. Currently, 6.7% of the shares of the company are short sold. Based on an average trading volume of 3,830,000 shares, the days-to-cover ratio is currently 3.3 days.
Shares of COMM opened at $13.85 on Tuesday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 6.56, a PEG ratio of 0.63 and a beta of 1.58. The company has a quick ratio of 1.29, a current ratio of 1.86 and a debt-to-equity ratio of 8.34. The firm has a fifty day simple moving average of $13.92 and a two-hundred day simple moving average of $13.19. Commscope has a twelve month low of $9.52 and a twelve month high of $27.00.
Commscope (NASDAQ:COMM) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Commscope had a negative net margin of 7.26% and a positive return on equity of 27.25%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 106.9% compared to the same quarter last year. Sell-side analysts expect that Commscope will post 1.76 EPS for the current fiscal year.
In other Commscope news, Director Frank M. Drendel sold 153,877 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $14.25, for a total value of $2,192,747.25. 3.25% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Commscope by 16.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 97,056 shares of the communications equipment provider’s stock worth $2,109,000 after acquiring an additional 13,824 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Commscope in the 2nd quarter worth about $43,000. SG Americas Securities LLC bought a new position in shares of Commscope in the 2nd quarter worth about $235,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Commscope by 115.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 82,410 shares of the communications equipment provider’s stock worth $1,296,000 after acquiring an additional 44,100 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Commscope by 133.3% in the 2nd quarter. KBC Group NV now owns 64,807 shares of the communications equipment provider’s stock worth $1,019,000 after acquiring an additional 37,033 shares in the last quarter.
A number of analysts recently commented on the stock. Credit Suisse Group dropped their price target on shares of Commscope from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Evercore ISI reaffirmed a “hold” rating and set a $14.00 target price on shares of Commscope in a report on Monday, November 11th. BidaskClub lowered shares of Commscope from a “sell” rating to a “strong sell” rating in a report on Friday, December 6th. ValuEngine raised shares of Commscope from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Nomura reissued a “buy” rating on shares of Commscope in a report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Commscope has an average rating of “Hold” and a consensus price target of $18.23.
Commscope Company Profile
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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