Comtech Telecommunications Corp. (CMTL) Expected to Post Quarterly Sales of $106.63 Million
Wall Street analysts expect Comtech Telecommunications Corp. (NASDAQ:CMTL) to post $106.63 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Comtech Telecommunications Corp.’s earnings, with the highest sales estimate coming in at $108.80 million and the lowest estimate coming in at $105.00 million. Comtech Telecommunications Corp. posted sales of $135.79 million in the same quarter last year, which suggests a negative year-over-year growth rate of 21.5%. The firm is expected to announce its next earnings report on Wednesday, December 6th.
On average, analysts expect that Comtech Telecommunications Corp. will report full year sales of $106.63 million for the current year, with estimates ranging from $550.30 million to $560.00 million. For the next financial year, analysts expect that the company will report sales of $560.50 million per share. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Comtech Telecommunications Corp..
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings results on Wednesday, September 27th. The communications equipment provider reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Comtech Telecommunications Corp. had a return on equity of 1.70% and a net margin of 2.88%. The company had revenue of $147.80 million during the quarter, compared to analysts’ expectations of $150.57 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year.
Several brokerages have recently issued reports on CMTL. Zacks Investment Research cut Comtech Telecommunications Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Noble Financial reiterated a “buy” rating on shares of Comtech Telecommunications Corp. in a research note on Friday, September 29th. BidaskClub upgraded Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $21.00 price objective on shares of Comtech Telecommunications Corp. in a research note on Thursday, September 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.10.
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A number of large investors have recently added to or reduced their stakes in CMTL. Wells Fargo & Company MN lifted its stake in Comtech Telecommunications Corp. by 5.1% during the first quarter. Wells Fargo & Company MN now owns 18,967 shares of the communications equipment provider’s stock worth $280,000 after purchasing an additional 913 shares in the last quarter. Swiss National Bank lifted its stake in Comtech Telecommunications Corp. by 10.9% during the first quarter. Swiss National Bank now owns 38,800 shares of the communications equipment provider’s stock worth $572,000 after purchasing an additional 3,800 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Comtech Telecommunications Corp. by 4.6% during the first quarter. Ameriprise Financial Inc. now owns 125,122 shares of the communications equipment provider’s stock worth $1,844,000 after purchasing an additional 5,525 shares in the last quarter. Prudential Financial Inc. lifted its stake in Comtech Telecommunications Corp. by 1.2% during the first quarter. Prudential Financial Inc. now owns 39,273 shares of the communications equipment provider’s stock worth $579,000 after purchasing an additional 450 shares in the last quarter. Finally, American International Group Inc. lifted its stake in Comtech Telecommunications Corp. by 7.9% during the first quarter. American International Group Inc. now owns 13,721 shares of the communications equipment provider’s stock worth $202,000 after purchasing an additional 1,010 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.
Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at $20.27 on Thursday. The stock has a market capitalization of $480.45, a PE ratio of 59.91, a PEG ratio of 9.94 and a beta of 1.92. The company has a quick ratio of 1.25, a current ratio of 1.67 and a debt-to-equity ratio of 0.37. Comtech Telecommunications Corp. has a fifty-two week low of $9.52 and a fifty-two week high of $22.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Wednesday, October 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, October 17th. Comtech Telecommunications Corp.’s dividend payout ratio is presently 59.70%.
Comtech Telecommunications Corp. Company Profile
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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