Comtech Telecommunications Corp. (CMTL) Lowered to Hold at Zacks Investment Research
Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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. “
Separately, BMO Capital Markets cut their price target on Comtech Telecommunications Corp. to $16.00 and set an “outperform” rating on the stock in a research note on Friday, December 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $15.82.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 2.42% during midday trading on Thursday, reaching $11.42. The company’s stock had a trading volume of 93,428 shares. Comtech Telecommunications Corp. has a 52-week low of $9.52 and a 52-week high of $25.09. The stock has a 50-day moving average price of $11.20 and a 200-day moving average price of $11.77. The stock’s market cap is $268.66 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings results on Wednesday, December 7th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $135.79 million for the quarter, compared to the consensus estimate of $139.10 million. Comtech Telecommunications Corp. had a positive return on equity of 0.32% and a negative net margin of 2.42%. The firm’s quarterly revenue was up 111.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Equities research analysts anticipate that Comtech Telecommunications Corp. will post $0.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Wednesday, January 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 13th. This represents a $0.40 annualized dividend and a dividend yield of 3.59%. Comtech Telecommunications Corp.’s payout ratio is currently -56.34%.
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Several hedge funds have recently bought and sold shares of the company. Virginia Retirement Systems ET AL bought a new stake in Comtech Telecommunications Corp. during the third quarter valued at $260,000. Peregrine Capital Management LLC bought a new stake in Comtech Telecommunications Corp. during the third quarter valued at $8,782,000. Nisa Investment Advisors LLC increased its stake in Comtech Telecommunications Corp. by 1,064.7% in the third quarter. Nisa Investment Advisors LLC now owns 19,800 shares of the company’s stock valued at $254,000 after buying an additional 18,100 shares during the last quarter. Creative Planning bought a new stake in Comtech Telecommunications Corp. during the third quarter valued at $1,551,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Comtech Telecommunications Corp. by 9.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 162,082 shares of the company’s stock valued at $2,082,000 after buying an additional 14,307 shares during the last quarter. Institutional investors own 80.20% of the company’s stock.
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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