Comtech Telecommunications Corp. (NASDAQ:CMTL)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group in a report issued on Wednesday. They currently have a $11.75 price target on the stock, down from their previous price target of $14.00. Jefferies Group’s price target points to a potential upside of 9.51% from the company’s current price.
A number of other research firms have also commented on CMTL. Zacks Investment Research lowered Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup Inc. reduced their price objective on Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday. BMO Capital Markets reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a report on Monday. Ladenburg Thalmann assumed coverage on Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Northland Securities assumed coverage on Comtech Telecommunications Corp. in a research note on Wednesday, July 6th. They issued an “outperform” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.68.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 10.73 on Wednesday. The company’s market cap is $252.24 million. The firm’s 50-day moving average price is $12.72 and its 200 day moving average price is $16.89. Comtech Telecommunications Corp. has a 52 week low of $10.68 and a 52 week high of $25.85.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $152.40 million for the quarter. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue was up 96.7% on a year-over-year basis. On average, equities analysts predict that Comtech Telecommunications Corp. will post ($0.81) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 19th. This represents a $1.20 annualized dividend and a yield of 11.18%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently -235.29%.
A number of large investors have recently modified their holdings of the company. Citigroup Inc. increased its stake in shares of Comtech Telecommunications Corp. by 3,594.8% in the second quarter. Citigroup Inc. now owns 1,081,914 shares of the company’s stock valued at $13,891,000 after buying an additional 1,052,632 shares during the period. Dean Investment Associates LLC bought a new stake in shares of Comtech Telecommunications Corp. during the second quarter valued at about $4,950,000. JPMorgan Chase & Co. increased its stake in shares of Comtech Telecommunications Corp. by 99.9% in the first quarter. JPMorgan Chase & Co. now owns 698,107 shares of the company’s stock valued at $16,315,000 after buying an additional 348,825 shares during the period. Citadel Advisors LLC increased its stake in shares of Comtech Telecommunications Corp. by 1,709.5% in the second quarter. Citadel Advisors LLC now owns 364,991 shares of the company’s stock valued at $4,686,000 after buying an additional 344,820 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Comtech Telecommunications Corp. by 31.8% in the second quarter. BlackRock Fund Advisors now owns 1,384,532 shares of the company’s stock valued at $17,777,000 after buying an additional 333,800 shares during the period. 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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