Comtech Telecommunications Corp. (CMTL) Given “Buy” Rating at BMO Capital Markets
Several other research firms also recently commented on CMTL. Ladenburg Thalmann started coverage on shares of Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They issued a buy rating and a $19.00 price target for the company. Northland Securities began coverage on shares of Comtech Telecommunications Corp. in a research note on Wednesday, July 6th. They set an outperform rating and a $20.00 target price for the company. Jefferies Group began coverage on shares of Comtech Telecommunications Corp. in a research note on Tuesday, August 2nd. They set a hold rating and a $14.00 target price for the company. Citigroup Inc. began coverage on shares of Comtech Telecommunications Corp. in a research note on Wednesday, August 24th. They set a neutral rating and a $13.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Comtech Telecommunications Corp. from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Monday, July 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $18.86.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 2.05% during trading on Monday, reaching $11.47. The company had a trading volume of 93,411 shares. The firm’s market capitalization is $269.64 million. Comtech Telecommunications Corp. has a 1-year low of $11.24 and a 1-year high of $25.85. The firm has a 50-day moving average of $12.88 and a 200 day moving average of $17.02.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The business earned $152.40 million during the quarter. Comtech Telecommunications Corp. had a negative net margin of 1.88% and a positive return on equity of 1.52%. The business’s revenue was up 96.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Analysts expect that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.20 annualized dividend and a yield of 10.25%. Comtech Telecommunications Corp.’s dividend payout ratio is currently -235.29%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in Comtech Telecommunications Corp. by 9.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 162,082 shares of the company’s stock valued at $2,082,000 after buying an additional 14,307 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Comtech Telecommunications Corp. by 32.3% in the second quarter. Wedge Capital Management L L P NC now owns 34,800 shares of the company’s stock valued at $447,000 after buying an additional 8,500 shares in the last quarter. Arizona State Retirement System purchased a new position in Comtech Telecommunications Corp. during the second quarter valued at about $180,000. Highbridge Capital Management LLC purchased a new position in Comtech Telecommunications Corp. during the second quarter valued at about $456,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Comtech Telecommunications Corp. during the second quarter valued at about $152,000. 83.12% of the stock is owned by hedge funds and other institutional investors.
Comtech Telecommunications Corp. Company Profile
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.
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