Comtech Telecomm. (CMTL) Cut to Sell at BidaskClub

Comtech Telecomm. (NASDAQ:CMTL) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, December 12th. Northland Securities set a $26.00 price objective on shares of Comtech Telecomm. and gave the company a “buy” rating in a research report on Sunday, December 10th. BMO Capital Markets upped their price objective on shares of Comtech Telecomm. to $26.00 and gave the company an “outperform” rating in a research report on Friday, December 8th. Finally, Noble Financial restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Comtech Telecomm. has a consensus rating of “Buy” and a consensus target price of $21.30.

Comtech Telecomm. (NASDAQ CMTL) traded up $0.03 on Thursday, hitting $21.74. 66,736 shares of the company were exchanged, compared to its average volume of 185,043. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.25 and a current ratio of 1.77. Comtech Telecomm. has a 1-year low of $10.53 and a 1-year high of $23.90. The company has a market cap of $513.23, a PE ratio of 30.62, a P/E/G ratio of 9.79 and a beta of 1.90.

Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, December 6th. The communications equipment provider reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.22. Comtech Telecomm. had a net margin of 3.11% and a return on equity of 1.87%. The business had revenue of $121.57 million during the quarter, compared to analysts’ expectations of $106.94 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. research analysts predict that Comtech Telecomm. will post 0.44 earnings per share for the current year.

In related news, insider Michael Porcelain sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $21.41, for a total value of $642,300.00. Following the completion of the transaction, the insider now directly owns 71,668 shares of the company’s stock, valued at approximately $1,534,411.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fred Kornberg sold 15,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $20.65, for a total transaction of $309,750.00. Following the completion of the transaction, the chief executive officer now directly owns 475,632 shares of the company’s stock, valued at $9,821,800.80. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMTL. Macquarie Group Ltd. acquired a new position in Comtech Telecomm. in the 3rd quarter worth $116,000. Russell Investments Group Ltd. acquired a new position in Comtech Telecomm. in the 3rd quarter worth $117,000. SG Americas Securities LLC acquired a new position in Comtech Telecomm. in the 3rd quarter worth $156,000. Teachers Retirement System of The State of Kentucky boosted its stake in Comtech Telecomm. by 182.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,200 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 5,300 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Comtech Telecomm. by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 3,270 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

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Comtech Telecomm. 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.

Analyst Recommendations for Comtech Telecomm. (NASDAQ:CMTL)

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