Comtech Telecommunications (NASDAQ:CMTL) Research Coverage Started at Northcoast Research

Northcoast Research initiated coverage on shares of Comtech Telecommunications (NASDAQ:CMTL) in a research note published on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $2.50 target price on the communications equipment provider’s stock.

A number of other brokerages also recently weighed in on CMTL. Wall Street Zen downgraded Comtech Telecommunications from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Weiss Ratings cut Comtech Telecommunications from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.50.

Comtech Telecommunications Price Performance

CMTL stock opened at $1.73 on Thursday. The company’s 50-day moving average price is $3.15 and its two-hundred day moving average price is $4.16. The firm has a market cap of $51.83 million, a P/E ratio of -0.78 and a beta of 1.51. The company has a quick ratio of 1.19, a current ratio of 1.61 and a debt-to-equity ratio of 4.02. Comtech Telecommunications has a 12 month low of $1.59 and a 12 month high of $6.21.

Comtech Telecommunications (NASDAQ:CMTL) last posted its quarterly earnings results on Monday, June 15th. The communications equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $106.00 million for the quarter, compared to analyst estimates of $110.20 million. Comtech Telecommunications had a negative net margin of 5.52% and a positive return on equity of 9.77%. On average, analysts anticipate that Comtech Telecommunications will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Comtech Telecommunications

A number of hedge funds have recently added to or reduced their stakes in CMTL. Kestra Advisory Services LLC acquired a new position in shares of Comtech Telecommunications during the fourth quarter worth $26,000. Cresset Asset Management LLC bought a new position in shares of Comtech Telecommunications in the 3rd quarter valued at $39,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Comtech Telecommunications during the 1st quarter valued at $59,000. Cetera Investment Advisers boosted its holdings in shares of Comtech Telecommunications by 25.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after acquiring an additional 5,192 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Comtech Telecommunications by 86.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock worth $71,000 after acquiring an additional 20,726 shares during the last quarter.

About Comtech Telecommunications

Comtech Telecommunications Corporation (NASDAQ:CMTL), founded in 1969 and headquartered in Melville, New York, is a leading global provider of advanced communications solutions. The company designs, develops, and deploys equipment, systems, and services that enable secure and reliable transmission of voice, video, and data. Over its history, Comtech has built a reputation for innovation across satellite communications, wireless data systems, and public safety networks, serving both commercial and government customers worldwide.

Comtech operates through two primary business segments: Commercial Solutions and Government Solutions.