Wall Street analysts forecast that Comtech Telecomm. Corp. (NASDAQ:CMTL) will post $172.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Comtech Telecomm.’s earnings. The lowest sales estimate is $167.70 million and the highest is $177.30 million. Comtech Telecomm. reported sales of $147.76 million during the same quarter last year, which indicates a positive year over year growth rate of 16.9%. The company is expected to announce its next quarterly earnings report on Wednesday, September 26th.
According to Zacks, analysts expect that Comtech Telecomm. will report full-year sales of $575.82 million for the current fiscal year, with estimates ranging from $570.80 million to $580.50 million. For the next year, analysts forecast that the firm will post sales of $604.90 million per share, with estimates ranging from $598.90 million to $610.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Comtech Telecomm..
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $35.00 target price on shares of Comtech Telecomm. in a research note on Thursday, June 7th. BidaskClub downgraded shares of Comtech Telecomm. from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine downgraded shares of Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, BMO Capital Markets upped their target price on shares of Comtech Telecomm. from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.83.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Comtech Telecomm. by 7.6% during the 2nd quarter. BlackRock Inc. now owns 3,438,804 shares of the communications equipment provider’s stock worth $109,631,000 after buying an additional 242,849 shares during the period. State of Wisconsin Investment Board grew its holdings in Comtech Telecomm. by 0.6% during the 1st quarter. State of Wisconsin Investment Board now owns 320,000 shares of the communications equipment provider’s stock worth $9,565,000 after acquiring an additional 2,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Comtech Telecomm. by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 188,177 shares of the communications equipment provider’s stock worth $5,625,000 after acquiring an additional 4,898 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Comtech Telecomm. by 7.8% during the 1st quarter. JPMorgan Chase & Co. now owns 187,957 shares of the communications equipment provider’s stock worth $5,618,000 after acquiring an additional 13,554 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its holdings in Comtech Telecomm. by 1.3% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 181,043 shares of the communications equipment provider’s stock worth $5,411,000 after acquiring an additional 2,237 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Comtech Telecomm. stock traded down $0.53 on Friday, reaching $33.22. The company had a trading volume of 104,378 shares, compared to its average volume of 86,693. The company has a market capitalization of $788.46 million, a price-to-earnings ratio of 97.71, a price-to-earnings-growth ratio of 8.82 and a beta of 1.49. Comtech Telecomm. has a 52-week low of $17.11 and a 52-week high of $36.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.72.
About Comtech Telecomm.
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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