Comtech Telecommunications Corp. (CMTL) Expected to Post Quarterly Sales of $150.93 Million
Wall Street analysts forecast that Comtech Telecommunications Corp. (NASDAQ:CMTL) will post $150.93 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Comtech Telecommunications Corp.’s earnings, with estimates ranging from $150.00 million to $152.40 million. Comtech Telecommunications Corp. reported sales of $152.38 million during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The firm is expected to issue its next earnings report on Thursday, October 5th.
On average, analysts expect that Comtech Telecommunications Corp. will report full year sales of $150.93 million for the current year, with estimates ranging from $552.61 million to $554.20 million. For the next fiscal year, analysts forecast that the business will report sales of $568.00 million per share, with estimates ranging from $563.80 million to $575.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Comtech Telecommunications Corp..
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.07. Comtech Telecommunications Corp. had a return on equity of 0.81% and a net margin of 2.02%. The business had revenue of $127.80 million during the quarter, compared to analysts’ expectations of $136.68 million. During the same period in the previous year, the firm posted ($0.89) earnings per share. The company’s revenue was up 2.9% on a year-over-year basis.
Several brokerages have recently weighed in on CMTL. Zacks Investment Research downgraded Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $17.00 price target on shares of Comtech Telecommunications Corp. in a research note on Wednesday, June 7th. BidaskClub downgraded Comtech Telecommunications Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $12.50 target price on shares of Comtech Telecommunications Corp. in a report on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.42.
Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 17.99 on Monday. Comtech Telecommunications Corp. has a 1-year low of $9.52 and a 1-year high of $19.80. The company’s 50-day moving average price is $18.84 and its 200 day moving average price is $14.70. The firm has a market capitalization of $424.02 million, a PE ratio of 36.20 and a beta of 1.93.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 17th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, July 13th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is currently 80.00%.
Several large investors have recently added to or reduced their stakes in CMTL. State Street Corp raised its position in Comtech Telecommunications Corp. by 7.1% in the fourth quarter. State Street Corp now owns 540,616 shares of the communications equipment provider’s stock worth $6,403,000 after buying an additional 35,730 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Comtech Telecommunications Corp. by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,467,081 shares of the communications equipment provider’s stock valued at $17,385,000 after buying an additional 95,520 shares during the last quarter. FMR LLC bought a new position in Comtech Telecommunications Corp. during the fourth quarter valued at about $486,000. Creative Planning increased its position in Comtech Telecommunications Corp. by 9.8% in the first quarter. Creative Planning now owns 113,000 shares of the communications equipment provider’s stock valued at $1,666,000 after buying an additional 10,100 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in Comtech Telecommunications Corp. by 1.0% in the first quarter. Capstone Asset Management Co. now owns 23,282 shares of the communications equipment provider’s stock valued at $343,000 after buying an additional 230 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
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About Comtech Telecommunications Corp.
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.
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