Comtech Telecommunications Corp. (CMTL) Stock Price Down 3.8%
Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price was down 3.8% during trading on Thursday . The stock traded as low as $12.91 and last traded at $13.07, with a volume of 282,927 shares. The stock had previously closed at $13.58.
Several equities analysts have commented on CMTL shares. Zacks Investment Research raised shares of Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. BMO Capital Markets started coverage on shares of Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Northland Securities started coverage on shares of Comtech Telecommunications Corp. in a research report on Wednesday, July 6th. They set an “outperform” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Comtech Telecommunications Corp. has an average rating of “Buy” and a consensus price target of $21.75.
The company’s market cap is $211.35 million. The company has a 50 day moving average price of $16.83 and a 200-day moving average price of $20.27.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, June 8th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.66) by $0.77. The company had revenue of $124.20 million for the quarter, compared to analyst estimates of $131.40 million. The firm’s revenue for the quarter was up 73.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. Equities analysts expect that Comtech Telecommunications Corp. will post ($0.84) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, July 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.20 dividend on an annualized basis and a yield of 9.18%.
A number of hedge funds recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Comtech Telecommunications Corp. by 2.2% in the fourth quarter. Rhumbline Advisers now owns 71,172 shares of the company’s stock worth $1,430,000 after buying an additional 1,520 shares during the last quarter. Systematic Financial Management LP boosted its stake in Comtech Telecommunications Corp. by 0.7% in the fourth quarter. Systematic Financial Management LP now owns 76,533 shares of the company’s stock worth $1,537,000 after buying an additional 560 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Comtech Telecommunications Corp. by 409.4% in the fourth quarter. Schroder Investment Management Group now owns 95,260 shares of the company’s stock worth $1,914,000 after buying an additional 76,560 shares during the last quarter.
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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