Comtech Telecommunications Corp. (CMTL) PT Lowered to $12.00 at Citigroup Inc.
Comtech Telecommunications Corp. (NASDAQ:CMTL) had its price target dropped by equities researchers at Citigroup Inc. from $13.00 to $12.00 in a research note issued on Monday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 2.48% from the stock’s current price.
Several other research firms have also commented on CMTL. Ladenburg Thalmann initiated coverage on Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price target on the stock. BMO Capital Markets initiated coverage on Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price target on the stock. Northland Securities initiated coverage on Comtech Telecommunications Corp. in a research report on Wednesday, July 6th. They set an “outperform” rating and a $20.00 price target on the stock. Jefferies Group assumed coverage on Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 price target on the stock. Finally, Zacks Investment Research raised Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Comtech Telecommunications Corp. currently has a consensus rating of “Buy” and an average target price of $18.86.
Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 0.09% during midday trading on Monday, reaching $11.71. The company’s stock had a trading volume of 229,758 shares. Comtech Telecommunications Corp. has a 12-month low of $11.24 and a 12-month high of $25.85. The stock’s 50 day moving average is $12.92 and its 200 day moving average is $17.19. The stock’s market cap is $275.28 million.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/comtech-telecommunications-corp-cmtl-pt-lowered-to-12-00-at-citigroup-inc.html
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04. The company had revenue of $152.40 million for 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 last year, the firm earned $0.34 EPS. Analysts anticipate that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.25%. The ex-dividend date of this dividend is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio is presently -235.29%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CMTL. Advisor Group Inc. acquired a new position in shares of Comtech Telecommunications Corp. during the second quarter worth $100,000. Levin Capital Strategies L.P. acquired a new position in shares of Comtech Telecommunications Corp. during the second quarter worth $128,000. Louisiana State Employees Retirement System acquired a new position in shares of Comtech Telecommunications Corp. during the second quarter worth $132,000. 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 in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Comtech Telecommunications Corp. during the second quarter worth $152,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Comtech Telecommunications Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecommunications Corp. and related companies with MarketBeat.com's FREE daily email newsletter.