BidaskClub downgraded shares of Comtech Telecomm. (NASDAQ:CMTL) from a sell rating to a strong sell rating in a report issued on Friday morning.
A number of other research analysts have also issued reports on CMTL. Zacks Investment Research lowered shares of Comtech Telecomm. from a strong-buy rating to a hold rating in a research note on Friday, August 10th. ValuEngine lowered 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 boosted their price target on shares of Comtech Telecomm. from $37.00 to $40.00 and gave the stock an outperform rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $35.17.
Shares of Comtech Telecomm. stock opened at $27.69 on Friday. Comtech Telecomm. has a 52-week low of $19.30 and a 52-week high of $36.94. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.29. The stock has a market cap of $674.82 million, a PE ratio of 36.92, a PEG ratio of 5.87 and a beta of 1.58.
Comtech Telecomm. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, September 26th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Comtech Telecomm. had a net margin of 5.22% and a return on equity of 3.67%. The business had revenue of $167.40 million for the quarter, compared to analyst estimates of $174.72 million. During the same period in the previous year, the business posted $0.31 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Comtech Telecomm. will post 0.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Wednesday, October 17th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.40 annualized dividend and a yield of 1.44%. Comtech Telecomm.’s payout ratio is currently 53.33%.
In other Comtech Telecomm. news, insider John Branscum sold 1,510 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $31.94, for a total transaction of $48,229.40. Following the transaction, the insider now directly owns 45,323 shares in the company, valued at $1,447,616.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edwin Kantor sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $34.55, for a total transaction of $34,550.00. Following the transaction, the director now owns 1,500 shares in the company, valued at $51,825. The disclosure for this sale can be found here. Insiders have sold 4,010 shares of company stock worth $133,779 over the last 90 days. 7.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC acquired a new position in Comtech Telecomm. during the second quarter worth about $175,000. Campbell & CO Investment Adviser LLC acquired a new position in Comtech Telecomm. during the second quarter worth about $215,000. Engineers Gate Manager LP acquired a new position in Comtech Telecomm. during the third quarter worth about $275,000. USA Financial Portformulas Corp acquired a new position in Comtech Telecomm. during the third quarter worth about $245,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Comtech Telecomm. by 29.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,991 shares of the communications equipment provider’s stock valued at $255,000 after purchasing an additional 1,838 shares during the last quarter. Institutional investors own 85.86% of the company’s stock.
Comtech Telecomm. Company Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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