Comtech Telecommunications Corp. (CMTL) Stock Rating Reaffirmed by Jefferies Group
Comtech Telecommunications Corp. (NASDAQ:CMTL)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group in a note issued to investors on Wednesday. They currently have a $11.75 price target on the stock, down from their previous price target of $14.00. Jefferies Group’s price objective indicates a potential upside of 9.51% from the stock’s current price.
A number of other analysts have also issued reports on CMTL. Zacks Investment Research raised shares of Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, July 11th. Citigroup Inc. reduced their price target on shares of Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. Northland Securities initiated coverage on shares of Comtech Telecommunications Corp. in a research report on Wednesday, July 6th. They issued an “outperform” rating and a $20.00 price target for the company. BMO Capital Markets reissued a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Monday. Finally, Ladenburg Thalmann initiated coverage on shares of Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They issued a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.68.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 3.16% on Wednesday, hitting $10.73. 365,311 shares of the stock traded hands. The stock has a 50-day moving average price of $12.72 and a 200 day moving average price of $16.89. The stock’s market cap is $252.24 million. Comtech Telecommunications Corp. has a 12-month low of $10.68 and a 12-month high of $25.85.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its earnings results on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a negative net margin of 1.88% and a positive return on equity of 1.52%. The company earned $152.40 million during the quarter. During the same quarter in the previous year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 96.7% compared to the same quarter last year. On average, analysts anticipate that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.
The firm 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 $0.30 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.18%. Comtech Telecommunications Corp.’s dividend payout ratio is -235.29%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. acquired a new position in Comtech Telecommunications Corp. during the second quarter worth about $100,000. Levin Capital Strategies L.P. purchased a new stake in shares of Comtech Telecommunications Corp. during the second quarter valued at $128,000. Louisiana State Employees Retirement System purchased a new stake in shares of Comtech Telecommunications Corp. during the second quarter valued at $132,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Comtech Telecommunications Corp. during the first quarter valued at $242,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Comtech Telecommunications Corp. by 30.5% in the second quarter. Alliancebernstein L.P. now owns 11,550 shares of the company’s stock valued at $148,000 after buying an additional 2,700 shares in the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.
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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