Comtech Telecommunications Corp. (CMTL) Receives “Buy” Rating from Noble Financial
Comtech Telecommunications Corp. (NASDAQ:CMTL)‘s stock had its “buy” rating reissued by stock analysts at Noble Financial in a report issued on Wednesday. They currently have a $20.00 price target on the stock. Noble Financial’s target price would indicate a potential upside of 75.90% from the company’s current price.
CMTL has been the topic of several other reports. Citigroup Inc. started coverage on Comtech Telecommunications Corp. in a report on Wednesday, August 24th. They set a “neutral” rating and a $13.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Comtech Telecommunications Corp. in a report on Monday. Zacks Investment Research upgraded Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, July 11th. Northland Securities started coverage on Comtech Telecommunications Corp. in a report on Wednesday, July 6th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Ladenburg Thalmann started coverage on Comtech Telecommunications Corp. in a report on Friday, July 22nd. They issued a “buy” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.68.
Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.5286% during mid-day trading on Wednesday, reaching $11.1962. The company had a trading volume of 128,241 shares. The firm’s market capitalization is $263.20 million. Comtech Telecommunications Corp. has a 52 week low of $10.94 and a 52 week high of $25.85. The stock’s 50-day moving average price is $12.84 and its 200 day moving average price is $16.98.
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Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its quarterly earnings data 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 revenue for the quarter was up 96.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts predict that Comtech Telecommunications Corp. will post ($0.81) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.55%. Comtech Telecommunications Corp.’s payout ratio is -235.29%.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. acquired a new stake in Comtech Telecommunications Corp. during the second quarter worth $100,000. Levin Capital Strategies L.P. acquired a new stake in Comtech Telecommunications Corp. during the second quarter worth $128,000. Louisiana State Employees Retirement System acquired a new stake in Comtech Telecommunications Corp. during the second quarter worth $132,000. Alliancebernstein L.P. boosted its stake in 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 last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Comtech Telecommunications Corp. during the second quarter worth $152,000. 83.12% of the stock is 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.
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