Comtech Telecommunications Corp. Sees Large Volume Increase on Analyst Upgrade (CMTL)
Comtech Telecommunications Corp. (NASDAQ:CMTL) shares saw strong trading volume on Monday after JPMorgan Chase & Co. raised their price target on the stock from $36.00 to $42.00, AnalystRatings.NET reports. JPMorgan Chase & Co. currently has an overweight rating on the stock. 355,703 shares traded hands during trading, an increase of 104% from the previous session’s volume of 174,689 shares.The stock last traded at $39.63 and had previously closed at $38.76.
The stock has a 50-day moving average of $31.89 and a 200-day moving average of $31.66. The company has a market cap of $636.0 million and a P/E ratio of 32.41.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings data on Thursday, June 5th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.17 earnings per share. Comtech Telecommunications Corp.’s revenue was up 27.3% compared to the same quarter last year. On average, analysts predict that Comtech Telecommunications Corp. will post $1.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 19th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, July 16th.
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for advanced communications solutions.
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