Comtech Telecommunications Corp. (CMTL) Stock Rating Lowered by Zacks Investment Research
Comtech Telecommunications Corp. (NASDAQ:CMTL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
A number of other research analysts also recently commented on CMTL. Citigroup Inc. began coverage on Comtech Telecommunications Corp. in a research note on Wednesday, August 24th. They issued a “neutral” rating and a $13.00 price target for the company. Noble Financial reaffirmed a “buy” rating and issued a $20.00 price target on shares of Comtech Telecommunications Corp. in a research note on Wednesday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $11.75 price target (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a research note on Wednesday, October 12th. BMO Capital Markets began coverage on Comtech Telecommunications Corp. in a research note on Monday, June 20th. They issued an “outperform” rating and a $19.00 price target for the company. Finally, 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 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.68.
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 http://www.americanbankingnews.com/2016/10/18/comtech-telecommunications-corp-cmtl-stock-rating-lowered-by-zacks-investment-research.html
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 1.78% during mid-day trading on Tuesday, hitting $10.88. 291,670 shares of the company were exchanged. Comtech Telecommunications Corp. has a 12-month low of $10.61 and a 12-month high of $25.85. The company’s market capitalization is $255.77 million. The firm has a 50 day moving average of $12.61 and a 200 day moving average of $16.62.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its quarterly earnings results on Thursday, October 6th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.04. The business earned $152.40 million during 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 revenue for the quarter was up 96.7% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Equities research analysts forecast that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.
The company also recently declared 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. This represents a $1.20 annualized dividend and a dividend yield of 11.03%. The ex-dividend date of this dividend is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is currently -235.29%.
In other news, Director Edwin Kantor sold 3,000 shares of the business’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $10.95, for a total transaction of $32,850.00. Following the sale, the director now directly owns 7,375 shares in the company, valued at $80,756.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CMTL. Advisor Group Inc. purchased a new stake in Comtech Telecommunications Corp. during the second quarter valued at $100,000. Levin Capital Strategies L.P. purchased a new stake in Comtech Telecommunications Corp. during the second quarter valued at $128,000. Louisiana State Employees Retirement System purchased a new stake in Comtech Telecommunications Corp. during the second quarter valued at $132,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Comtech Telecommunications Corp. during the first quarter valued at $242,000. Finally, 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 valued at $148,000 after buying an additional 2,700 shares during the period. Institutional investors 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.