Capstone Asset Management Co. increased its position in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 12.5% during the third quarter, Holdings Channel reports. The fund owned 11,862 shares of the company’s stock after buying an additional 1,320 shares during the period. Capstone Asset Management Co. owned about 0.05% of Comtech Telecommunications Corp. worth $152,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CMTL. Advisor Group Inc. bought a new position in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $100,000. Levin Capital Strategies L.P. bought a new position in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $128,000. Louisiana State Employees Retirement System bought a new position in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $132,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Comtech Telecommunications Corp. during the first quarter worth approximately $242,000. Finally, Alliancebernstein L.P. raised its position 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 last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 10.73 on Friday. The company’s 50 day moving average is $12.72 and its 200 day moving average is $16.89. Comtech Telecommunications Corp. has a 12-month low of $10.68 and a 12-month high of $25.85. The company’s market cap is $252.24 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a negative net margin of 1.88% and a positive return on equity of 1.52%. The business had revenue of $152.40 million for the quarter. During the same period in the prior year, the firm earned $0.34 EPS. Comtech Telecommunications Corp.’s revenue for the quarter was up 96.7% compared to the same quarter last year. Analysts forecast that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 11.18%. The ex-dividend date of this dividend is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio is currently -235.29%.
A number of brokerages have recently commented on CMTL. Zacks Investment Research lowered shares of Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group reissued a “hold” rating and issued a $11.75 price target (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a report on Wednesday. Noble Financial reissued a “buy” rating and issued a $20.00 price target on shares of Comtech Telecommunications Corp. in a report on Wednesday. Citigroup Inc. began coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, August 24th. They issued a “neutral” rating and a $13.00 price target on the stock. Finally, BMO Capital Markets began coverage on shares of Comtech Telecommunications Corp. in a report on Monday, June 20th. They issued an “outperform” rating and a $19.00 price target on the stock. 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 company. The stock has an average rating of “Hold” and an average target price of $16.68.
Comtech Telecommunications Corp. Company Profile
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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