BidaskClub upgraded shares of Comtech Telecommunications (NASDAQ:CMTL) from a hold rating to a buy rating in a report released on Wednesday.
CMTL has been the subject of several other research reports. Northland Securities set a $26.00 price objective on Comtech Telecommunications and gave the company a buy rating in a research note on Sunday, December 10th. BMO Capital Markets upped their price objective on Comtech Telecommunications to $26.00 and gave the company an outperform rating in a research note on Friday, December 8th. Noble Financial reaffirmed an average rating on shares of Comtech Telecommunications in a research note on Friday, March 9th. Jefferies Group reiterated a hold rating on shares of Comtech Telecommunications in a report on Thursday, March 15th. Finally, Zacks Investment Research upgraded Comtech Telecommunications from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Tuesday, March 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $25.10.
Comtech Telecommunications stock opened at $29.71 on Wednesday. Comtech Telecommunications has a 1 year low of $13.11 and a 1 year high of $31.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.29. The company has a market capitalization of $721.12, a PE ratio of 87.38, a PEG ratio of 11.20 and a beta of 1.49.
Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, March 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. Comtech Telecommunications had a return on equity of 2.20% and a net margin of 4.87%. The company had revenue of $133.70 million during the quarter, compared to the consensus estimate of $124.65 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. sell-side analysts predict that Comtech Telecommunications will post 0.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Wednesday, April 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, April 17th. Comtech Telecommunications’s payout ratio is presently 117.65%.
In related news, insider Richard L. Burt sold 82,700 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $30.46, for a total value of $2,519,042.00. Following the sale, the insider now directly owns 178,315 shares in the company, valued at $5,431,474.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edwin Kantor sold 3,318 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $30.49, for a total value of $101,165.82. Following the completion of the sale, the director now owns 4,057 shares in the company, valued at $123,697.93. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CMTL. Macquarie Group Ltd. bought a new stake in Comtech Telecommunications in the third quarter valued at approximately $116,000. Russell Investments Group Ltd. bought a new position in shares of Comtech Telecommunications during the 3rd quarter worth approximately $117,000. SG Americas Securities LLC bought a new position in shares of Comtech Telecommunications during the 3rd quarter worth approximately $156,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Comtech Telecommunications by 58.7% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock worth $181,000 after buying an additional 3,270 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in shares of Comtech Telecommunications during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 87.78% of the company’s stock.
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Comtech Telecommunications Company Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment provides ground-based equipment, such as single channel per carrier modems and solid state amplifiers that facilitate the transmission of voice, video, and data, as well as offers traveling wave tube amplifiers comprising high power narrow-band amplifiers that are used to amplify signals from satellite earth stations; and safety and security technology solutions that enable 911 c.
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