Comtech Telecommunications Corp. (CMTL) Updates FY14 Earnings Guidance
Comtech Telecommunications Corp. (NASDAQ:CMTL) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.25-1.30 for the period, compared to the Thomson Reuters consensus estimate of $1.20, Analyst Ratings Network reports. The company issued revenue guidance of $342-346 million, compared to the consensus revenue estimate of $336.38 million.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 4.93% on Thursday, hitting $32.99. 196,881 shares of the company’s stock traded hands. Comtech Telecommunications Corp. has a 52 week low of $23.84 and a 52 week high of $33.80. The stock’s 50-day moving average is $31.65 and its 200-day moving average is $31.59. The company has a market cap of $505.6 million and a P/E ratio of 29.94. Comtech Telecommunications Corp. also was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 494,337 shares, a drop of 63.9% from the April 30th total of 1,370,399 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 141,539 shares, the days-to-cover ratio is currently 3.5 days.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.14. The company had revenue of $88.90 million for the quarter, compared to the consensus estimate of $77.50 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, analysts predict that Comtech Telecommunications Corp. will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 19th. Shareholders of record on Friday, July 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.64%.
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions.
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