Zacks Investment Research cut shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) from a hold rating to a sell rating in a research report sent to 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. “

CMTL has been the subject of several other reports. BMO Capital Markets initiated coverage on shares of Comtech Telecommunications Corp. in a research note on Monday, June 20th. They set an outperform rating and a $19.00 target price for the company. Northland Securities initiated 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. Ladenburg Thalmann initiated coverage on shares of Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They set a buy rating and a $19.00 target price for the company. Jefferies Group initiated 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. Finally, Citigroup Inc. assumed 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $16.68.

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

Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 10.5968 on Tuesday. The firm has a 50-day moving average of $12.55 and a 200-day moving average of $16.53. The stock’s market capitalization is $249.11 million. Comtech Telecommunications Corp. has a one year low of $10.52 and a one year high of $25.85.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ 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 business earned $152.40 million during the quarter. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Comtech Telecommunications Corp.’s quarterly revenue was up 96.7% compared to the same quarter last year. On average, equities research analysts forecast that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 11.03%. The ex-dividend date of this dividend is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio is currently -235.29%.

In other Comtech Telecommunications Corp. news, Director Edwin Kantor sold 3,000 shares of the stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $10.95, for a total transaction of $32,850.00. Following the sale, the director now owns 7,375 shares of the company’s stock, valued at approximately $80,756.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Advisor Group Inc. bought a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $100,000. Levin Capital Strategies L.P. bought a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $128,000. Louisiana State Employees Retirement System bought a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $132,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Comtech Telecommunications Corp. during the first quarter worth approximately $242,000. Finally, Alliancebernstein L.P. raised 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 worth $148,000 after buying an additional 2,700 shares in the last quarter. 83.12% of the stock is currently 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.

5 Day Chart for NASDAQ:CMTL

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