Comtech Telecommunications Corp. (CMTL) Stock Rating Reaffirmed by Noble Financial
Comtech Telecommunications Corp. (NASDAQ:CMTL)‘s stock had its “buy” rating reiterated by analysts at Noble Financial in a research report issued to clients and investors on Wednesday. They presently have a $20.00 price target on the stock. Noble Financial’s target price would suggest a potential upside of 75.90% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. Jefferies Group started coverage on Comtech Telecommunications Corp. in a research report on Tuesday, August 2nd. They issued a “hold” rating and a $14.00 target price on the stock. Citigroup Inc. reduced 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 began coverage on Comtech Telecommunications Corp. in a research note on Wednesday, July 6th. They set an “outperform” rating and a $20.00 price objective on the stock. Ladenburg Thalmann began coverage on Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They set a “buy” rating and a $19.00 price objective on the stock. Finally, BMO Capital Markets reissued a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.68.
Comtech Telecommunications Corp. (NASDAQ:CMTL) traded down 1.58% during mid-day trading on Wednesday, hitting $11.19. The company’s stock had a trading volume of 126,106 shares. Comtech Telecommunications Corp. has a 52-week low of $10.94 and a 52-week high of $25.85. The company’s 50 day moving average is $12.84 and its 200-day moving average is $16.98. The stock’s market cap is $263.05 million.
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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 Thomson Reuters’ 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 business had revenue of $152.40 million for the quarter. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Comtech Telecommunications Corp.’s revenue was up 96.7% on a year-over-year basis. On average, equities analysts predict that Comtech Telecommunications Corp. will post ($0.81) EPS for the current fiscal 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 issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 19th. This represents a $1.20 annualized dividend and a dividend yield of 10.55%. Comtech Telecommunications Corp.’s dividend payout ratio is presently -235.29%.
Hedge funds have recently modified their holdings of the stock. Advisor Group Inc. acquired a new stake in shares of Comtech Telecommunications Corp. during the second quarter valued at approximately $100,000. Levin Capital Strategies L.P. purchased a new position in shares of Comtech Telecommunications Corp. during the second quarter worth about $128,000. Louisiana State Employees Retirement System purchased a new position in shares of Comtech Telecommunications Corp. during the second quarter worth about $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 during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Comtech Telecommunications Corp. during the second quarter worth about $152,000. Hedge funds and other institutional investors 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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