Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price was down 3.2% during trading on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The company traded as low as $10.68 and last traded at $10.73, with a volume of 382,035 shares traded. The stock had previously closed at $11.08.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC raised its position 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 in the last quarter. Alambic Investment Management L.P. raised its position in shares of Comtech Telecommunications Corp. by 11.6% in the second quarter. Alambic Investment Management L.P. now owns 42,280 shares of the company’s stock worth $543,000 after buying an additional 4,380 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Comtech Telecommunications Corp. by 254.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,649 shares of the company’s stock worth $471,000 after buying an additional 26,305 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Comtech Telecommunications Corp. by 2.7% in the first quarter. Prudential Financial Inc. now owns 38,253 shares of the company’s stock worth $894,000 after buying an additional 1,000 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Comtech Telecommunications Corp. during the second quarter worth $1,218,000. 83.12% of the stock is currently owned by institutional investors.

The firm has a 50-day moving average price of $12.72 and a 200 day moving average price of $16.89. The firm’s market cap is $252.24 million.

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 Thomson Reuters’ consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The firm had revenue of $152.40 million for the quarter. During the same period in the previous year, the firm earned $0.34 EPS. Comtech Telecommunications Corp.’s revenue for the quarter was up 96.7% on a year-over-year basis. On average, equities research analysts expect that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.

The company also recently announced 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 annualized dividend and a yield of 11.18%. Comtech Telecommunications Corp.’s payout ratio is -235.29%.

About Comtech Telecommunications Corp.

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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