Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) dropped 17.4% during mid-day trading on Thursday . The company traded as low as $17.11 and last traded at $17.61. Approximately 1,553,186 shares were traded during mid-day trading, an increase of 924% from the average daily volume of 151,605 shares. The stock had previously closed at $21.32.

CMTL has been the subject of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $21.00 target price on shares of Comtech Telecommunications Corp. in a research report on Thursday. BidaskClub cut Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research cut Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Citigroup Inc. lifted their price target on Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $12.50 price target on shares of Comtech Telecommunications Corp. in a research report on Thursday, June 8th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.08.

The firm has a market capitalization of $483.89 million, a price-to-earnings ratio of 41.31 and a beta of 1.91. The company has a 50-day moving average of $19.22 and a 200-day moving average of $16.68.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, September 27th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Comtech Telecommunications Corp. had a return on equity of 1.70% and a net margin of 2.88%. The business had revenue of $147.80 million during the quarter, compared to analyst estimates of $150.57 million. During the same quarter in the prior year, the business posted $0.14 EPS. Comtech Telecommunications Corp.’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Comtech Telecommunications Corp. will post $0.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Wednesday, October 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. Comtech Telecommunications Corp.’s payout ratio is presently 59.70%.

A number of hedge funds have recently modified their holdings of CMTL. Huber Capital Management LLC increased its stake in Comtech Telecommunications Corp. by 22.1% in the 2nd quarter. Huber Capital Management LLC now owns 2,574,504 shares of the communications equipment provider’s stock worth $48,838,000 after buying an additional 465,139 shares in the last quarter. Uniplan Investment Counsel Inc. increased its stake in Comtech Telecommunications Corp. by 149.3% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 566,738 shares of the communications equipment provider’s stock worth $10,751,000 after buying an additional 339,399 shares in the last quarter. Paradigm Capital Management Inc. NY increased its stake in Comtech Telecommunications Corp. by 127.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 530,000 shares of the communications equipment provider’s stock worth $10,054,000 after buying an additional 297,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Comtech Telecommunications Corp. by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,691,114 shares of the communications equipment provider’s stock worth $24,927,000 after buying an additional 224,033 shares in the last quarter. Finally, Royce & Associates LP increased its stake in Comtech Telecommunications Corp. by 10.5% in the 2nd quarter. Royce & Associates LP now owns 1,555,504 shares of the communications equipment provider’s stock worth $29,508,000 after buying an additional 147,920 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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Comtech Telecommunications Corp. Company Profile

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

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