Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves. “

Several other research firms have also recently issued reports on CMTL. BMO Capital Markets assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price objective for the company. Ladenburg Thalmann assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price objective for the company. Jefferies Group assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price objective for the company. Citigroup Inc. assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Wednesday, August 24th. They set a “neutral” rating and a $13.00 price objective for the company. Finally, Northland Securities assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Wednesday, July 6th. They set an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.68.

Analyst Recommendations for Comtech Telecommunications Corp. (NASDAQ:CMTL)

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 11.08 on Tuesday. Comtech Telecommunications Corp. has a 12 month low of $10.94 and a 12 month high of $25.85. The stock’s market cap is $260.47 million. The stock has a 50 day moving average of $12.78 and a 200 day moving average of $16.94.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $152.40 million for 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 quarterly revenue was up 96.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts anticipate that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.83%. The ex-dividend date of this dividend is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio is presently -235.29%.

Several large investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC boosted its stake in shares of Comtech Telecommunications Corp. by 4.1% in the second quarter. ClariVest Asset Management LLC now owns 35,909 shares of the company’s stock worth $460,000 after buying an additional 1,400 shares in the last quarter. Strs Ohio raised its position in Comtech Telecommunications Corp. by 8.2% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock valued at $389,000 after buying an additional 2,300 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Comtech Telecommunications Corp. during the second quarter valued at approximately $132,000. New York State Teachers Retirement System raised its position in Comtech Telecommunications Corp. by 0.3% in the second quarter. New York State Teachers Retirement System now owns 61,024 shares of the company’s stock valued at $784,000 after buying an additional 200 shares during the last quarter. Finally, Sentinel Trust Co. LBA raised its position in Comtech Telecommunications Corp. by 23.0% in the second quarter. Sentinel Trust Co. LBA now owns 62,986 shares of the company’s stock valued at $808,000 after buying an additional 11,795 shares during the last quarter. Institutional investors and hedge funds own 83.12% of the company’s stock.

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.

5 Day Chart for NASDAQ:CMTL

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