Comtech Telecommunications Corp. (CMTL) Stock Rating Reaffirmed by Noble Financial
Comtech Telecommunications Corp. (NASDAQ:CMTL)‘s stock had its “buy” rating reissued by equities researchers at Noble Financial in a note issued to investors on Wednesday. They currently have a $20.00 price target on the stock. Noble Financial’s price target suggests a potential upside of 75.90% from the company’s current price.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets initiated coverage on Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price target on the stock. Ladenburg Thalmann initiated coverage on Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price target on the stock. Jefferies Group initiated coverage on Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price target on the stock. Zacks Investment Research raised Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, July 11th. Finally, Citigroup Inc. initiated coverage on Comtech Telecommunications Corp. in a research report on Wednesday, August 24th. They set a “neutral” rating and a $13.00 price target on the stock. One equities 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 company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.68.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.58% during midday trading on Wednesday, reaching $11.19. The company’s stock had a trading volume of 126,106 shares. The firm has a 50-day moving average of $12.84 and a 200-day moving average of $16.98. The stock’s market cap is $263.05 million. Comtech Telecommunications Corp. has a one year low of $10.94 and a one year high of $25.85.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. The firm earned $152.40 million during the quarter. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The firm’s revenue for the quarter was up 96.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, analysts forecast that Comtech Telecommunications Corp. will post ($0.81) EPS for the current year.
The business also recently disclosed 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 is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a yield of 10.55%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is -235.29%.
A number of hedge funds have recently modified their holdings of CMTL. Aperio Group LLC boosted its stake in shares of Comtech Telecommunications Corp. by 22.9% in the first quarter. Aperio Group LLC now owns 18,023 shares of the company’s stock worth $421,000 after buying an additional 3,354 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Comtech Telecommunications Corp. during the first quarter valued at $242,000. Prudential Financial Inc. boosted its stake in Comtech Telecommunications Corp. by 2.7% in the first quarter. Prudential Financial Inc. now owns 38,253 shares of the company’s stock valued at $894,000 after buying an additional 1,000 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Comtech Telecommunications Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 1,050,732 shares of the company’s stock valued at $24,556,000 after buying an additional 10,780 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Comtech Telecommunications Corp. by 99.9% in the first quarter. JPMorgan Chase & Co. now owns 698,107 shares of the company’s stock valued at $16,315,000 after buying an additional 348,825 shares during the last quarter. 83.12% of the stock is currently 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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