Noble Financial reiterated their buy rating on shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) in a research report released on Wednesday morning. The brokerage currently has a $20.00 price objective on the stock.
CMTL has been the subject of a number of other reports. Zacks Investment Research raised Comtech Telecommunications Corp. from a hold rating to a buy rating and set a $15.00 price objective for the company in a research note on Monday, July 11th. Citigroup Inc. dropped their price objective on Comtech Telecommunications Corp. from $13.00 to $12.00 and set a neutral rating for the company in a research note on Monday. Jefferies Group began coverage on Comtech Telecommunications Corp. in a research note on Tuesday, August 2nd. They issued a hold rating and a $14.00 price objective for the company. Northland Securities initiated coverage on Comtech Telecommunications Corp. in a research note on Wednesday, July 6th. They issued an outperform rating and a $20.00 price objective for the company. Finally, BMO Capital Markets reiterated a buy rating on shares of Comtech Telecommunications Corp. in a report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $16.68.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.62% on Wednesday, hitting $10.90. The stock had a trading volume of 105,015 shares. Comtech Telecommunications Corp. has a 12-month low of $10.81 and a 12-month high of $25.85. The company’s market cap is $256.24 million. The stock has a 50 day moving average price of $12.78 and a 200-day moving average price of $16.94.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The business earned $152.40 million during the quarter. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 96.7% compared to the same quarter last year. On average, equities analysts expect that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a $0.30 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a yield of 10.83%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently -235.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMTL. Advisor Group Inc. acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth about $100,000. Levin Capital Strategies L.P. acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth about $128,000. Louisiana State Employees Retirement System acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth about $132,000. Alliancebernstein L.P. increased its stake in shares of Comtech Telecommunications Corp. by 30.5% in the second quarter. Alliancebernstein L.P. now owns 11,550 shares of the company’s stock worth $148,000 after buying an additional 2,700 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth about $152,000. Hedge funds and other institutional investors own 83.12% of the company’s stock.
About Comtech Telecommunications Corp.
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions. The Company operates through three segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. Its telecommunications transmission segment provides equipment and systems used for satellite transmission and enable wireless communications.
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