Comtech Telecommunications Corp. (NASDAQ:CMTL) Expected to Post Quarterly Sales of $147.77 Million

Wall Street brokerages expect that Comtech Telecommunications Corp. (NASDAQ:CMTL) will announce $147.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Comtech Telecommunications’ earnings, with the highest sales estimate coming in at $150.00 million and the lowest estimate coming in at $145.30 million. Comtech Telecommunications posted sales of $149.67 million in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The company is expected to report its next earnings report on Tuesday, October 5th.

According to Zacks, analysts expect that Comtech Telecommunications will report full-year sales of $583.63 million for the current year, with estimates ranging from $581.10 million to $585.89 million. For the next year, analysts forecast that the company will post sales of $597.83 million, with estimates ranging from $585.30 million to $605.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Comtech Telecommunications.

A number of research analysts have weighed in on CMTL shares. Northland Securities reduced their target price on Comtech Telecommunications from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, June 9th. Citigroup cut their target price on Comtech Telecommunications from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 9th. cut their target price on Comtech Telecommunications from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 9th. Finally, Zacks Investment Research raised Comtech Telecommunications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Comtech Telecommunications presently has an average rating of “Hold” and a consensus target price of $27.40.

CMTL opened at $25.74 on Friday. The stock has a 50-day moving average price of $25.20 and a 200-day moving average price of $25.00. The stock has a market capitalization of $671.02 million, a P/E ratio of -8.17 and a beta of 1.88. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Comtech Telecommunications has a 12-month low of $12.96 and a 12-month high of $30.40.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Comtech Telecommunications by 8.0% during the first quarter. BlackRock Inc. now owns 4,222,944 shares of the communications equipment provider’s stock valued at $104,897,000 after purchasing an additional 311,380 shares in the last quarter. Vanguard Group Inc. grew its position in Comtech Telecommunications by 6.8% in the second quarter. Vanguard Group Inc. now owns 1,753,192 shares of the communications equipment provider’s stock worth $42,357,000 after acquiring an additional 111,190 shares in the last quarter. Royce & Associates LP grew its position in Comtech Telecommunications by 78.8% in the first quarter. Royce & Associates LP now owns 1,076,990 shares of the communications equipment provider’s stock worth $26,752,000 after acquiring an additional 474,612 shares in the last quarter. State Street Corp grew its position in Comtech Telecommunications by 5.2% in the second quarter. State Street Corp now owns 876,031 shares of the communications equipment provider’s stock worth $21,165,000 after acquiring an additional 43,508 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Comtech Telecommunications in the first quarter worth about $19,205,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp. engages in the design, development, production, and market of products, systems, and services for advanced communications solutions. It operates through the Commercial Solutions and Government Solutions segment. The Commercial Solutions segment offers satellite communications, public safety systems, and enterprise application technologies for commercial customers and smaller government customers.

See Also: How to Invest in an Index Fund

Get a free copy of the Zacks research report on Comtech Telecommunications (CMTL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Comtech Telecommunications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecommunications and related companies with MarketBeat.com's FREE daily email newsletter.