Shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) traded up 12% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $30.43 and last traded at $28.44. 536,578 shares changed hands during trading, an increase of 224% from the average session volume of 165,804 shares. The stock had previously closed at $25.40.
The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.23. The company had revenue of $160.80 million for the quarter, compared to analyst estimates of $129.30 million. Comtech Telecomm. had a return on equity of 3.67% and a net margin of 5.22%. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Wednesday, January 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, January 15th. Comtech Telecomm.’s payout ratio is 53.33%.
A number of analysts have issued reports on the company. ValuEngine lowered Comtech Telecomm. from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 28th. TheStreet lowered Comtech Telecomm. from a “b-” rating to a “c+” rating in a research report on Thursday, November 15th. BidaskClub lowered Comtech Telecomm. from a “sell” rating to a “strong sell” rating in a research report on Friday, November 2nd. Finally, BMO Capital Markets upped their price objective on Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.17.
In related news, Director Edwin Kantor sold 1,000 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $34.55, for a total value of $34,550.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $51,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Branscum sold 1,510 shares of the stock in a transaction on Monday, October 15th. The shares were sold at an average price of $31.94, for a total value of $48,229.40. Following the completion of the transaction, the insider now directly owns 45,323 shares in the company, valued at approximately $1,447,616.62. The disclosure for this sale can be found here. Insiders sold 4,010 shares of company stock worth $133,779 in the last three months. 7.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of CMTL. Piedmont Investment Advisors LLC purchased a new position in Comtech Telecomm. in the second quarter valued at $175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Comtech Telecomm. in the third quarter valued at $205,000. USA Financial Portformulas Corp acquired a new position in Comtech Telecomm. in the third quarter valued at $245,000. Metropolitan Life Insurance Co. NY boosted its stake in 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 acquiring an additional 1,838 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in Comtech Telecomm. in the second quarter valued at $263,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
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 company has a market cap of $597.88 million, a PE ratio of 37.92, a price-to-earnings-growth ratio of 5.19 and a beta of 1.54.
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About Comtech Telecomm. (NASDAQ:CMTL)
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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