Zacks: Brokerages Anticipate Comtech Telecommunications Corp. (CMTL) Will Announce Earnings of -$0.28 Per Share

Wall Street analysts expect Comtech Telecommunications Corp. (NASDAQ:CMTL) to report earnings of ($0.28) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Comtech Telecommunications Corp.’s earnings. The lowest EPS estimate is ($0.29) and the highest is ($0.27). Comtech Telecommunications Corp. reported earnings of ($0.11) per share in the same quarter last year, which suggests a negative year over year growth rate of 154.5%. The business is expected to issue its next quarterly earnings report on Wednesday, December 6th.

According to Zacks, analysts expect that Comtech Telecommunications Corp. will report full-year earnings of $0.41 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will report earnings of $0.65 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Comtech Telecommunications Corp..

Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, September 27th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Comtech Telecommunications Corp. had a net margin of 2.88% and a return on equity of 1.70%. The business had revenue of $147.80 million during the quarter, compared to analysts’ expectations of $150.57 million. During the same period in the previous year, the company earned $0.14 earnings per share. Comtech Telecommunications Corp.’s revenue for the quarter was down 3.0% on a year-over-year basis.

CMTL has been the subject of several analyst reports. Zacks Investment Research raised shares of Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Wednesday, October 4th. BMO Capital Markets reissued a “buy” rating and issued a $21.00 target price on shares of Comtech Telecommunications Corp. in a research note on Thursday, September 28th. Noble Financial reissued a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, September 29th. BidaskClub cut shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Northland Securities set a $22.00 target price on shares of Comtech Telecommunications Corp. and gave the company a “buy” rating in a research note on Monday, July 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.10.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 0.37% during mid-day trading on Wednesday, hitting $21.62. 300,201 shares of the stock were exchanged. The company has a market capitalization of $509.91 million, a PE ratio of 32.27 and a beta of 1.93. Comtech Telecommunications Corp. has a 12-month low of $9.52 and a 12-month high of $22.90. The firm has a 50-day moving average price of $20.43 and a 200 day moving average price of $17.57.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Wednesday, October 18th will be given a dividend of $0.10 per share. 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 1.85%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is 59.70%.

A number of hedge funds have recently added to or reduced their stakes in CMTL. Huber Capital Management LLC boosted its position in Comtech Telecommunications Corp. by 22.1% during the second quarter. Huber Capital Management LLC now owns 2,574,504 shares of the communications equipment provider’s stock worth $48,838,000 after purchasing an additional 465,139 shares during the period. Uniplan Investment Counsel Inc. lifted its holdings in shares of Comtech Telecommunications Corp. by 149.3% during the second 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 lifted its holdings in shares of Comtech Telecommunications Corp. by 127.7% during the second 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 lifted its holdings in shares of Comtech Telecommunications Corp. by 15.3% during the first 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 lifted its holdings in shares of Comtech Telecommunications Corp. by 10.5% during the second 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. 88.74% of the stock is owned by hedge funds and other institutional investors.

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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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