Schwab Charles Investment Management Inc. boosted its holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 28.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,116 shares of the communications equipment provider’s stock after buying an additional 85,596 shares during the period. Schwab Charles Investment Management Inc. owned approximately 1.65% of Comtech Telecommunications Corp. worth $7,382,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in shares of Comtech Telecommunications Corp. by 5.1% during the second quarter. Capstone Asset Management Co. now owns 24,472 shares of the communications equipment provider’s stock valued at $464,000 after purchasing an additional 1,190 shares during the period. Parametric Portfolio Associates LLC grew its position in Comtech Telecommunications Corp. by 36.5% in the first quarter. Parametric Portfolio Associates LLC now owns 196,144 shares of the communications equipment provider’s stock valued at $2,891,000 after acquiring an additional 52,425 shares during the period. Swiss National Bank grew its position in Comtech Telecommunications Corp. by 10.9% in the first quarter. Swiss National Bank now owns 38,800 shares of the communications equipment provider’s stock valued at $572,000 after acquiring an additional 3,800 shares during the period. Fox Run Management L.L.C. bought a new stake in Comtech Telecommunications Corp. in the second quarter valued at $296,000. Finally, Prudential Financial Inc. grew its position in Comtech Telecommunications Corp. by 1.2% in the first quarter. Prudential Financial Inc. now owns 39,273 shares of the communications equipment provider’s stock valued at $579,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds own 88.74% of the company’s stock.
Shares of Comtech Telecommunications Corp. (CMTL) opened at 21.835 on Tuesday. The company has a 50-day moving average price of $20.43 and a 200-day moving average price of $17.57. The company has a market cap of $514.98 million, a P/E ratio of 32.590 and a beta of 1.93. Comtech Telecommunications Corp. has a 12-month low of $9.52 and a 12-month high of $22.90.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its earnings results on Wednesday, September 27th. The communications equipment provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Comtech Telecommunications Corp. had a net margin of 2.88% and a return on equity of 1.70%. The business had revenue of $147.80 million during the quarter, compared to the consensus estimate of $150.57 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. On average, analysts predict that Comtech Telecommunications Corp. will post $0.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Wednesday, October 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, October 17th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently 59.70%.
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A number of brokerages have weighed in on CMTL. Noble Financial reiterated a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Friday, September 29th. BidaskClub upgraded Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research raised Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, October 4th. BMO Capital Markets reissued a “buy” rating and issued a $21.00 price objective on shares of Comtech Telecommunications Corp. in a research note on Thursday, September 28th. Finally, Northland Securities set a $22.00 price objective on Comtech Telecommunications Corp. and gave the stock a “buy” rating in a research note on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $19.10.
Comtech Telecommunications Corp. Profile
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.
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