Zacks Investment Research cut shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) from a buy rating to a hold rating in a report published on Friday, October 6th.
According to Zacks, “Comtech Telecommunications Corp. designs and produces a wide range of telecom systems and services. The company’s telecom transmission division markets such products as satellite earth station equipment and over-the-horizon microwave systems. The mobile data communications department offers mobile satellite transceivers and satellite packet data networks. Comtech also manufactures broadband amplifiers in the microwave and radio frequency spectrums. Its amplifiers are used in both defense and commercial applications. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies. Its Commercial Solutions segment provides satellite communications (such as satellite earth station modems and traveling wave tube amplifiers), public safety systems (such as next generation 911 technologies) and enterprise application technologies (such as messaging and trusted location-based technologies. “
Several other equities research analysts have also issued reports on the stock. Noble Financial reissued a buy rating on shares of Comtech Telecommunications Corp. in a report on Friday, September 29th. BMO Capital Markets reissued a buy rating and issued a $21.00 target price on shares of Comtech Telecommunications Corp. in a report on Thursday, September 28th. BidaskClub raised shares of Comtech Telecommunications Corp. from a sell rating to a hold rating in a report on Monday, August 14th. Northland Securities set a $22.00 target price on shares of Comtech Telecommunications Corp. and gave the stock a buy rating in a report on Monday, July 10th. Finally, ValuEngine upgraded Comtech Telecommunications Corp. from a sell rating to a hold rating in a research note on Thursday, June 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Comtech Telecommunications Corp. presently has a consensus rating of Hold and a consensus target price of $19.10.
Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 21.835 on Friday. The stock’s 50 day moving average is $20.43 and its 200-day moving average is $17.57. The company has a market capitalization of $514.98 million, a PE 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 released its quarterly earnings results on Wednesday, September 27th. The communications equipment provider reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $147.80 million during the quarter, compared to analyst estimates of $150.57 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect that Comtech Telecommunications Corp. will post $0.41 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Wednesday, October 18th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.40 annualized dividend and a yield of 1.83%. Comtech Telecommunications Corp.’s payout ratio is presently 59.70%.
Large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its stake in Comtech Telecommunications Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,229 shares of the communications equipment provider’s stock worth $180,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund increased its stake in Comtech Telecommunications Corp. by 1.0% in the second quarter. Texas Permanent School Fund now owns 17,196 shares of the communications equipment provider’s stock worth $326,000 after purchasing an additional 163 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Comtech Telecommunications Corp. by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,570 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 210 shares during the period. Prudential Financial Inc. increased its stake 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 worth $579,000 after purchasing an additional 450 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Comtech Telecommunications Corp. by 5.1% in the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock worth $280,000 after purchasing an additional 913 shares during the period. Institutional investors own 88.74% of the company’s stock.
About Comtech Telecommunications Corp.
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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