Zacks Investment Research Lowers 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 report issued 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. “
CMTL has been the subject of a number of other research reports. Citigroup Inc. initiated coverage on Comtech Telecommunications Corp. in a research note on Wednesday, August 24th. They issued a “neutral” rating and a $13.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Monday. Northland Securities assumed coverage on Comtech Telecommunications Corp. in a research report on Wednesday, July 6th. They set an “outperform” rating and a $20.00 target price on the stock. Ladenburg Thalmann assumed coverage on Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 target price on the stock. Finally, 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 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Comtech Telecommunications Corp. presently has an average rating of “Hold” and an average target price 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’s stock had a trading volume of 323,019 shares. Comtech Telecommunications Corp. has a 52-week low of $11.24 and a 52-week high of $25.85. The firm’s 50 day moving average is $12.88 and its 200-day moving average is $17.02. The stock’s market cap is $267.29 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The firm earned $152.40 million during the quarter. During the same period last year, the business posted $0.34 EPS. The company’s revenue was up 96.7% on a year-over-year basis. On average, equities research analysts forecast that Comtech Telecommunications Corp. will post ($0.81) EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a yield of 10.55%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is currently -235.29%.
A number of hedge funds have recently modified their holdings of the company. Advisor Group Inc. acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $100,000. Levin Capital Strategies L.P. acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $128,000. Louisiana State Employees Retirement System acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter worth approximately $132,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Comtech Telecommunications Corp. during the first quarter worth approximately $242,000. Finally, Alliancebernstein L.P. raised its stake 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 during the period. Institutional investors and hedge funds own 83.12% of the company’s stock.
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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