Zacks Investment Research Downgrades Comtech Telecommunications Corp. (CMTL) to Sell
Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves. “
Several other research analysts also recently commented on the company. Jefferies Group started coverage on Comtech Telecommunications Corp. in a report on Tuesday, August 2nd. They set a “hold” rating and a $14.00 target price on the stock. Citigroup Inc. dropped their price objective on Comtech Telecommunications Corp. from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday. 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 objective on the stock. 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 objective on the stock. Finally, BMO Capital Markets assumed coverage on Comtech Telecommunications Corp. in a research note on Monday, June 20th. They issued an “outperform” rating and a $19.00 price objective on the stock. One 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 an average price target of $18.86.
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Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 2.90% on Tuesday, reaching $11.37. The company had a trading volume of 323,377 shares. Comtech Telecommunications Corp. has a 12 month low of $11.24 and a 12 month high of $25.85. The stock has a 50-day moving average price of $12.88 and a 200-day moving average price of $17.02. The stock’s market cap is $267.29 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its earnings results on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The firm 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 firm’s quarterly revenue was up 96.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Analysts predict that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.55%. The ex-dividend date is Wednesday, October 19th. Comtech Telecommunications Corp.’s payout ratio is -235.29%.
Hedge funds have recently modified their holdings of the stock. Aperio Group LLC raised its stake 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 worth $421,000 after buying an additional 3,354 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Comtech Telecommunications Corp. during the first quarter worth approximately $242,000. Prudential Financial Inc. raised its stake 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 worth $894,000 after buying an additional 1,000 shares during the last quarter. BlackRock Fund Advisors raised its stake 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 worth $24,556,000 after buying an additional 10,780 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $16,315,000 after buying an additional 348,825 shares during the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.
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.
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