Comtech Telecommunications Corp. (CMTL) Shares Down 4.4%
Comtech Telecommunications Corp. (NASDAQ:CMTL) dropped 4.4% during mid-day trading on Friday . The company traded as low as $13.08 and last traded at $13.10, with a volume of 493,292 shares traded. The stock had previously closed at $13.70.
CMTL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. Ladenburg Thalmann initiated coverage on Comtech Telecommunications Corp. in a report on Friday, July 22nd. They set a “buy” rating and a $19.00 price objective for the company. BMO Capital Markets initiated coverage on Comtech Telecommunications Corp. in a report on Monday, June 20th. They set an “outperform” rating and a $19.00 price objective for the company. Finally, Northland Securities initiated coverage on Comtech Telecommunications Corp. in a report on Wednesday, July 6th. They set an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.20.
The firm’s market capitalization is $211.35 million. The firm’s 50 day moving average price is $13.77 and its 200-day moving average price is $19.71.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last posted its earnings results on Wednesday, June 8th. The company reported ($0.89) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.66) by $0.77. The business earned $124.20 million during the quarter, compared to analyst estimates of $131.40 million. The company’s revenue was up 73.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Analysts predict that Comtech Telecommunications Corp. will post ($0.80) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, July 18th will be issued a $0.30 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.16%.
Several large investors have bought and sold shares of CMTL. Schroder Investment Management Group raised 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 in the last quarter. Systematic Financial Management LP raised 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 valued at $1,537,000 after buying an additional 560 shares during the period. Finally, Rhumbline Advisers raised 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 valued at $1,430,000 after buying an additional 1,520 shares during the period.
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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