Zacks: Brokerages Anticipate Comtech Telecomm. Corp. (CMTL) Will Announce Quarterly Sales of $124.00 Million

Analysts forecast that Comtech Telecomm. Corp. (NASDAQ:CMTL) will announce $124.00 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Comtech Telecomm.’s earnings, with the lowest sales estimate coming in at $123.50 million and the highest estimate coming in at $125.00 million. Comtech Telecomm. posted sales of $139.03 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.8%. The firm is expected to issue its next earnings results on Wednesday, March 14th.

On average, analysts expect that Comtech Telecomm. will report full-year sales of $124.00 million for the current financial year, with estimates ranging from $550.40 million to $561.80 million. For the next financial year, analysts anticipate that the business will post sales of $563.97 million per share, with estimates ranging from $556.40 million to $575.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Comtech Telecomm..

Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, December 6th. The communications equipment provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.22. The business had revenue of $121.57 million during the quarter, compared to analyst estimates of $106.94 million. Comtech Telecomm. had a return on equity of 1.87% and a net margin of 3.11%. Comtech Telecomm.’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) EPS.

A number of research analysts have commented on CMTL shares. Northland Securities set a $26.00 price target on Comtech Telecomm. and gave the company a “buy” rating in a research report on Sunday, December 10th. Zacks Investment Research downgraded Comtech Telecomm. from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. BidaskClub upgraded Comtech Telecomm. from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, BMO Capital Markets upped their target price on Comtech Telecomm. to $26.00 and gave the stock an “outperform” rating in a report on Friday, December 8th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $21.30.

Comtech Telecomm. (NASDAQ:CMTL) opened at $21.89 on Wednesday. The company has a market capitalization of $516.53, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 9.87 and a beta of 1.83. The company has a current ratio of 1.77, a quick ratio of 1.25 and a debt-to-equity ratio of 0.37. Comtech Telecomm. has a 52-week low of $10.95 and a 52-week high of $23.90.

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Wednesday, January 17th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, January 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. Comtech Telecomm.’s dividend payout ratio (DPR) is 56.34%.

In related news, CEO Fred Kornberg sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $20.65, for a total value of $309,750.00. Following the sale, the chief executive officer now owns 475,632 shares in the company, valued at approximately $9,821,800.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Porcelain sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $21.41, for a total value of $642,300.00. Following the completion of the sale, the insider now owns 71,668 shares in the company, valued at approximately $1,534,411.88. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CMTL. Wells Fargo & Company MN grew its stake in shares of Comtech Telecomm. by 23.4% in the 2nd quarter. Wells Fargo & Company MN now owns 23,410 shares of the communications equipment provider’s stock worth $445,000 after buying an additional 4,443 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Comtech Telecomm. by 26.2% in the 2nd quarter. Teachers Advisors LLC now owns 41,045 shares of the communications equipment provider’s stock worth $779,000 after buying an additional 8,529 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Comtech Telecomm. by 25.6% in the 2nd quarter. New York State Common Retirement Fund now owns 26,500 shares of the communications equipment provider’s stock worth $503,000 after buying an additional 5,399 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Comtech Telecomm. in the 2nd quarter worth approximately $261,000. Finally, Vanguard Group Inc. grew its stake in shares of Comtech Telecomm. by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,320,060 shares of the communications equipment provider’s stock worth $25,042,000 after buying an additional 82,685 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/21/zacks-brokerages-anticipate-comtech-telecomm-corp-cmtl-will-announce-quarterly-sales-of-124-00-million.html.

Comtech Telecomm. 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.

Get a free copy of the Zacks research report on Comtech Telecomm. (CMTL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Comtech Telecomm. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecomm. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply