What’s Next for CommScope Holding Company, Inc. (COMM) After Forming Double Top Pattern?

May 17, 2018 - By Jason Grubb

CommScope Holding Company, Inc. (NASDAQ:COMM) Logo

Investors sentiment increased to 0.98 in Q4 2017. Its up 0.26, from 0.72 in 2017Q3. It is positive, as 41 investors sold CommScope Holding Company, Inc. shares while 77 reduced holdings. 45 funds opened positions while 71 raised stakes. 193.85 million shares or 1.07% more from 191.80 million shares in 2017Q3 were reported.
Architects Inc accumulated 3,743 shares or 0.02% of the stock. Advisory Ser Network Ltd Liability Corporation, a Georgia-based fund reported 195 shares. Pitcairn accumulated 0.04% or 10,447 shares. Cannell Peter B & Company accumulated 0.43% or 326,689 shares. Rech Global Invsts invested in 0.26% or 23.68 million shares. Commonwealth National Bank Of stated it has 200 shares or 0% of all its holdings. Franklin holds 4.32 million shares or 0.08% of its portfolio. Moreover, Zebra Cap Limited Liability Company has 0.41% invested in CommScope Holding Company, Inc. (NASDAQ:COMM) for 31,745 shares. Westpac Corporation invested 0.02% of its portfolio in CommScope Holding Company, Inc. (NASDAQ:COMM). Great West Life Assurance Can reported 0.01% stake. Harris Assoc L P reported 0.55% of its portfolio in CommScope Holding Company, Inc. (NASDAQ:COMM). California State Teachers Retirement Systems has invested 0.02% in CommScope Holding Company, Inc. (NASDAQ:COMM). Legal & General Public Ltd Liability accumulated 0.01% or 252,831 shares. Parametrica Management Limited has 0.17% invested in CommScope Holding Company, Inc. (NASDAQ:COMM) for 7,290 shares. Nelson Van Denburg Campbell Wealth Management Group Inc Ltd Company accumulated 3,260 shares.

The chart of CommScope Holding Company, Inc. (COMM) shows a double top with $31.69 target or 6.00 % above today’s $29.90 share price. The 5 months chart pattern indicates low risk for the $5.74 billion company. It was reported on May, 17 by Finviz.com. If the $31.69 price target is reached, the company will be worth $344.58 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.17% or $0.05 during the last trading session, reaching $29.9. About 573,551 shares traded. CommScope Holding Company, Inc. (NASDAQ:COMM) has declined 4.00% since May 17, 2017 and is downtrending. It has underperformed by 15.55% the S&P500.

Analysts await CommScope Holding Company, Inc. (NASDAQ:COMM) to report earnings on August, 2. They expect $0.61 EPS, up 8.93 % or $0.05 from last year’s $0.56 per share. COMM’s profit will be $117.16 million for 12.25 P/E if the $0.61 EPS becomes a reality. After $0.45 actual EPS reported by CommScope Holding Company, Inc. for the previous quarter, Wall Street now forecasts 35.56 % EPS growth.

CommScope Holding Company, Inc. (NASDAQ:COMM) Ratings Coverage

Among 9 analysts covering CommScope Holding (NASDAQ:COMM), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. CommScope Holding had 12 analyst reports since January 11, 2018 according to SRatingsIntel. The stock has “Equal-Weight” rating by Morgan Stanley on Monday, April 30. On Wednesday, May 2 the stock rating was upgraded by Northland Capital to “Outperform”. The firm earned “Hold” rating on Thursday, May 3 by J.P. Morgan. On Friday, March 9 the stock rating was maintained by Citigroup with “Buy”. On Friday, February 16 the stock rating was maintained by Northland Capital with “Hold”. Barclays Capital upgraded CommScope Holding Company, Inc. (NASDAQ:COMM) on Wednesday, February 14 to “Overweight” rating. On Friday, January 26 the stock rating was upgraded by Longbow to “Buy”. As per Thursday, February 15, the company rating was maintained by Jefferies. The stock of CommScope Holding Company, Inc. (NASDAQ:COMM) has “Buy” rating given on Wednesday, May 2 by Citigroup.

More recent CommScope Holding Company, Inc. (NASDAQ:COMM) news were published by: Nasdaq.com which released: “Why Shares of CommScope Holding Company Crashed Today” on May 01, 2018. Also Businesswire.com published the news titled: “CommScope to Participate in Upcoming Conferences” on May 15, 2018. Nasdaq.com‘s news article titled: “Mid-Morning Market Update: Markets Open Lower; Pfizer Posts Mixed Q1 Results” with publication date: May 01, 2018 was also an interesting one.

CommScope Holding Company, Inc. provides infrastructure solutions for communications networks worldwide. The company has market cap of $5.74 billion. 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, AMP NETCONNECT, and Uniprise brands; and fiber management systems, patch cords and panels, complete cabling systems, and cable assemblies for use in offices and data centers. It has a 30.51 P/E ratio. This segment also provides fiber optic connectivity solutions, including hardened connector systems, fiber distribution hubs and management systems, couplers and splitters, plug and play multiport service terminals, hardened optical terminating enclosures, high density cable assemblies, splices, and splice closures that supports video, voice, and high-speed data services provided by telecommunications operators and multi-system operators.

CommScope Holding Company, Inc. (NASDAQ:COMM) Institutional Positions Chart

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