Comtech Telecommunications Corp. (CMTL) Price Target Cut to $12.00
Comtech Telecommunications Corp. (NASDAQ:CMTL) had its target price lowered by research analysts at Citigroup Inc. from $13.00 to $12.00 in a report issued on Monday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would indicate a potential upside of 2.48% from the stock’s current price.
Several other equities research analysts have also recently weighed in on CMTL. Zacks Investment Research raised Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Monday, July 11th. BMO Capital Markets reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Monday. Ladenburg Thalmann assumed coverage on Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They set a “buy” rating and a $19.00 target price for the company. Northland Securities assumed coverage on Comtech Telecommunications Corp. in a research note on Wednesday, July 6th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Jefferies Group assumed coverage on Comtech Telecommunications Corp. in a research note on Tuesday, August 2nd. They set a “hold” rating and a $14.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Comtech Telecommunications Corp. presently has an average rating of “Buy” and an average target price of $18.86.
Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 0.17% on Monday, hitting $11.74. The company’s stock had a trading volume of 209,302 shares. Comtech Telecommunications Corp. has a 12 month low of $11.24 and a 12 month high of $25.85. The stock’s market cap is $275.98 million. The firm has a 50 day moving average of $12.92 and a 200-day moving average of $17.19.
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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. The company earned $152.40 million during the quarter. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The company’s quarterly revenue was up 96.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. On average, analysts expect 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 $0.30 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.20 annualized dividend and a yield of 10.25%. Comtech Telecommunications Corp.’s payout ratio is currently -235.29%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its position in shares of Comtech Telecommunications Corp. by 22.9% in the first quarter. Aperio Group LLC now owns 18,023 shares of the company’s stock valued at $421,000 after buying an additional 3,354 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Comtech Telecommunications Corp. during the first quarter valued at about $242,000. Prudential Financial Inc. raised its position in shares of Comtech Telecommunications Corp. by 2.7% in the first quarter. Prudential Financial Inc. now owns 38,253 shares of the company’s stock valued at $894,000 after buying an additional 1,000 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Comtech Telecommunications Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 1,050,732 shares of the company’s stock valued at $24,556,000 after buying an additional 10,780 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 last quarter. Institutional investors and hedge funds 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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