Shares of Commscope Holding Company Inc (NASDAQ:COMM) dropped 2.5% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $18.52 and last traded at $19.08. Approximately 169,390 shares changed hands during trading, a decline of 93% from the average daily volume of 2,545,107 shares. The stock had previously closed at $19.56.

The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.22 billion. Commscope had a return on equity of 24.14% and a net margin of 4.43%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS.

COMM has been the topic of several recent research reports. ValuEngine upgraded Commscope from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Goldman Sachs Group lowered Commscope from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Tuesday, October 9th. BidaskClub lowered Commscope from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. Raymond James upgraded Commscope from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Longbow Research lowered Commscope from a “buy” rating to a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Commscope currently has an average rating of “Hold” and a consensus price target of $33.79.

Several institutional investors have recently modified their holdings of COMM. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Commscope in the second quarter worth approximately $123,000. Twin Tree Management LP purchased a new stake in shares of Commscope in the second quarter worth approximately $151,000. NumerixS Investment Technologies Inc raised its stake in shares of Commscope by 6,300.0% in the second quarter. NumerixS Investment Technologies Inc now owns 6,400 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 6,300 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Commscope by 54.7% in the second quarter. Advisors Asset Management Inc. now owns 14,583 shares of the communications equipment provider’s stock worth $194,000 after purchasing an additional 5,156 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Commscope in the second quarter worth approximately $202,000.

The company has a quick ratio of 2.16, a current ratio of 2.77 and a debt-to-equity ratio of 2.57. The stock has a market cap of $4.71 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.34 and a beta of 1.23.

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About Commscope (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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