Comtech Telecommunications Corp. (CMTL) Cut to “Hold” at BidaskClub
BidaskClub cut shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) from a buy rating to a hold rating in a report published on Thursday morning.
A number of other analysts have also recently issued reports on CMTL. Northland Securities set a $22.00 target price on Comtech Telecommunications Corp. and gave the stock a buy rating in a report on Monday, July 10th. ValuEngine upgraded Comtech Telecommunications Corp. from a sell rating to a hold rating in a report on Thursday, June 15th. Zacks Investment Research cut Comtech Telecommunications Corp. from a buy rating to a hold rating in a report on Tuesday, July 18th. Citigroup Inc. boosted their target price on Comtech Telecommunications Corp. from $15.00 to $18.00 and gave the stock a neutral rating in a report on Friday, June 9th. Finally, BMO Capital Markets reiterated a buy rating and set a $17.00 target price on shares of Comtech Telecommunications Corp. in a report on Wednesday, June 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Comtech Telecommunications Corp. has a consensus rating of Hold and a consensus price target of $18.42.
Shares of Comtech Telecommunications Corp. (NASDAQ CMTL) remained flat at $18.08 during mid-day trading on Thursday. The stock had a trading volume of 68,508 shares. The company has a market capitalization of $426.15 million, a P/E ratio of 36.38 and a beta of 1.93. The stock has a 50 day moving average of $18.85 and a 200 day moving average of $14.56. Comtech Telecommunications Corp. has a one year low of $9.52 and a one year high of $19.80.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its earnings results on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a return on equity of 0.81% and a net margin of 2.02%. The business had revenue of $127.80 million during the quarter, compared to analysts’ expectations of $136.68 million. During the same quarter in the previous year, the business earned ($0.89) EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Comtech Telecommunications Corp. will post $0.65 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 17th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, July 13th. Comtech Telecommunications Corp.’s dividend payout ratio is presently 80.00%.
A number of institutional investors have recently added to or reduced their stakes in CMTL. Russell Investments Group Ltd. bought a new position in Comtech Telecommunications Corp. during the fourth quarter worth $955,000. Comerica Bank boosted its position in Comtech Telecommunications Corp. by 5.0% in the fourth quarter. Comerica Bank now owns 24,690 shares of the communications equipment provider’s stock worth $281,000 after buying an additional 1,182 shares in the last quarter. State Street Corp boosted its position in Comtech Telecommunications Corp. by 7.1% in the fourth quarter. State Street Corp now owns 540,616 shares of the communications equipment provider’s stock worth $6,403,000 after buying an additional 35,730 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Comtech Telecommunications Corp. by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,467,081 shares of the communications equipment provider’s stock worth $17,385,000 after buying an additional 95,520 shares in the last quarter. Finally, FMR LLC bought a new position in Comtech Telecommunications Corp. during the fourth quarter worth $486,000. Hedge funds and other institutional investors own 82.63% of the company’s stock.
About Comtech Telecommunications Corp.
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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