Zacks Investment Research cut shares of Comtech Telecomm. (NASDAQ:CMTL) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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

CMTL has been the subject of several other reports. TheStreet downgraded shares of Comtech Telecomm. from a b- rating to a c+ rating in a research note on Wednesday, March 25th. BidaskClub lowered Comtech Telecomm. from a hold rating to a sell rating in a research note on Saturday, June 20th. Northland Securities reduced their price target on Comtech Telecomm. from $27.00 to $24.00 and set an outperform rating on the stock in a research report on Thursday, June 4th. Citigroup lowered their price objective on shares of Comtech Telecomm. from $34.00 to $17.00 and set a neutral rating for the company in a research report on Tuesday, March 31st. Finally, Noble Financial restated a buy rating and issued a $43.00 target price on shares of Comtech Telecomm. in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $25.75.

NASDAQ CMTL opened at $15.87 on Tuesday. The company has a market cap of $392.30 million, a P/E ratio of 32.39 and a beta of 2.01. Comtech Telecomm. has a 12 month low of $11.48 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.22. The company has a 50-day moving average of $17.05 and a 200-day moving average of $23.22.

Comtech Telecomm. (NASDAQ:CMTL) last released its earnings results on Wednesday, June 3rd. The communications equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.22). The company had revenue of $135.12 million during the quarter, compared to analysts’ expectations of $146.55 million. Comtech Telecomm. had a net margin of 1.87% and a return on equity of 4.46%. Comtech Telecomm.’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. As a group, equities research analysts anticipate that Comtech Telecomm. will post 0.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, July 14th. Comtech Telecomm.’s dividend payout ratio is currently 29.85%.

Several institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. bought a new position in shares of Comtech Telecomm. during the first quarter worth about $46,000. PNC Financial Services Group Inc. raised its stake in Comtech Telecomm. by 38.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,354 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 374 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Comtech Telecomm. by 39,860.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,998 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 1,993 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Comtech Telecomm. during the 4th quarter worth approximately $89,000. Finally, Federated Hermes Inc. grew its position in shares of Comtech Telecomm. by 4,151.7% in the 1st quarter. Federated Hermes Inc. now owns 7,568 shares of the communications equipment provider’s stock worth $101,000 after acquiring an additional 7,390 shares in the last quarter. Institutional investors and hedge funds own 86.53% of the company’s stock.

About Comtech Telecomm.

Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.

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