Comtech Telecomm. (CMTL) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Comtech Telecomm. (NASDAQ:CMTL) from a strong-buy rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable, inefficient or too expensive. The Company conducts business through three complementary segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. “

A number of other research analysts have also recently issued reports on the company. Noble Financial set a $38.00 target price on Comtech Telecomm. and gave the company a buy rating in a research report on Saturday, December 8th. ValuEngine cut Comtech Telecomm. from a buy rating to a hold rating in a research report on Wednesday, December 5th. TheStreet cut Comtech Telecomm. from a b- rating to a c+ rating in a research report on Thursday, November 15th. BidaskClub cut Comtech Telecomm. from a sell rating to a strong sell rating in a research report on Friday, November 2nd. Finally, BMO Capital Markets lifted their target price on Comtech Telecomm. from $37.00 to $40.00 and gave the company an outperform rating in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $35.40.

Comtech Telecomm. stock opened at $25.63 on Thursday. Comtech Telecomm. has a 12-month low of $20.62 and a 12-month high of $36.94. The company has a current ratio of 2.14, a quick ratio of 1.51 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $612.71 million, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 5.01 and a beta of 1.54.

Comtech Telecomm. (NASDAQ:CMTL) last released its earnings results on Thursday, December 6th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.23. Comtech Telecomm. had a return on equity of 5.05% and a net margin of 5.72%. The firm had revenue of $160.80 million for the quarter, compared to analysts’ expectations of $129.30 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s revenue for the quarter was up 32.2% on a year-over-year basis. As a group, equities analysts anticipate that Comtech Telecomm. will post 1.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, January 15th. Comtech Telecomm.’s payout ratio is 53.33%.

In other news, Director Edwin Kantor sold 1,000 shares of Comtech Telecomm. stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $34.55, for a total transaction of $34,550.00. Following the sale, the director now directly owns 1,500 shares of the company’s stock, valued at $51,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Branscum sold 1,510 shares of Comtech Telecomm. stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $31.94, for a total value of $48,229.40. Following the sale, the insider now directly owns 45,323 shares in the company, valued at $1,447,616.62. The disclosure for this sale can be found here. Insiders have sold 4,010 shares of company stock worth $133,779 over the last three months. Insiders own 7.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in CMTL. Ceredex Value Advisors LLC acquired a new stake in shares of Comtech Telecomm. during the third quarter valued at about $16,379,000. BlackRock Inc. boosted its stake in shares of Comtech Telecomm. by 7.6% during the second quarter. BlackRock Inc. now owns 3,438,804 shares of the communications equipment provider’s stock valued at $109,631,000 after purchasing an additional 242,849 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Comtech Telecomm. during the third quarter valued at about $6,977,000. Renaissance Technologies LLC boosted its stake in shares of Comtech Telecomm. by 48.0% during the third quarter. Renaissance Technologies LLC now owns 506,850 shares of the communications equipment provider’s stock valued at $18,383,000 after purchasing an additional 164,300 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Comtech Telecomm. by 70.0% during the third quarter. Morgan Stanley now owns 140,588 shares of the communications equipment provider’s stock valued at $5,099,000 after purchasing an additional 57,889 shares in the last quarter. 88.48% of the stock is currently owned by hedge funds and other institutional investors.

Comtech Telecomm. Company Profile

Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.

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