Comtech Telecomm. (NASDAQ:CMTL) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.23, Fidelity Earnings reports. Comtech Telecomm. had a return on equity of 3.67% and a net margin of 5.22%. The business had revenue of $160.80 million for the quarter, compared to analyst estimates of $129.30 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue was up 32.2% on a year-over-year basis. Comtech Telecomm. updated its FY19 guidance to $0.95-1.08 EPS.
Shares of CMTL stock opened at $25.40 on Friday. Comtech Telecomm. has a fifty-two week low of $20.25 and a fifty-two week high of $36.94. The stock has a market cap of $597.88 million, a PE ratio of 33.80, a price-to-earnings-growth ratio of 5.19 and a beta of 1.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.24 and a current ratio of 1.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Wednesday, January 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. Comtech Telecomm.’s payout ratio is 53.33%.
A number of equities research analysts have recently weighed in on CMTL shares. BidaskClub upgraded Comtech Telecomm. from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research lowered Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. BMO Capital Markets boosted their price target on Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. ValuEngine lowered Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, TheStreet lowered Comtech Telecomm. from a “b-” rating to a “c+” rating in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.17.
In related news, insider John Branscum sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $31.94, for a total value of $48,229.40. Following the sale, the insider now owns 45,323 shares in the company, valued at $1,447,616.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edwin Kantor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $34.55, for a total value of $34,550.00. Following the completion of the sale, the director now owns 1,500 shares in the company, valued at approximately $51,825. The disclosure for this sale can be found here. Insiders have sold 4,010 shares of company stock worth $133,779 in the last 90 days. Insiders own 7.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CMTL. Principal Financial Group Inc. boosted its position in Comtech Telecomm. by 2.7% in the first quarter. Principal Financial Group Inc. now owns 188,177 shares of the communications equipment provider’s stock valued at $5,625,000 after buying an additional 4,898 shares during the last quarter. Bank of Montreal Can boosted its position in Comtech Telecomm. by 32.1% in the second quarter. Bank of Montreal Can now owns 87,798 shares of the communications equipment provider’s stock valued at $2,799,000 after buying an additional 21,332 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Comtech Telecomm. by 25.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,503 shares of the communications equipment provider’s stock valued at $303,000 after buying an additional 1,939 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Comtech Telecomm. in the second quarter valued at approximately $175,000. Finally, Sei Investments Co. boosted its position in Comtech Telecomm. by 93,116.7% in the second quarter. Sei Investments Co. now owns 33,558 shares of the communications equipment provider’s stock valued at $1,070,000 after buying an additional 33,522 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.
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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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