Comtech Telecommunications Corp. (CMTL) Trading Down 4.4%
Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price traded down 4.4% during mid-day trading on Friday . The stock traded as low as $13.08 and last traded at $13.10, with a volume of 493,292 shares trading hands. The stock had previously closed at $13.70.
Several equities analysts recently issued reports on the stock. Ladenburg Thalmann assumed coverage on shares of Comtech Telecommunications Corp. in a research report on Friday, July 22nd. They set a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research upgraded shares of Comtech Telecommunications Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, July 11th. 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 price target on the stock. Finally, BMO Capital Markets started coverage on shares of Comtech Telecommunications Corp. in a report on Monday, June 20th. They issued an “outperform” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.20.
The firm’s market cap is $211.35 million. The firm has a 50 day moving average price of $13.77 and a 200 day moving average price of $19.71.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings results on Wednesday, June 8th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.66) by $0.77. The firm earned $124.20 million during the quarter, compared to the consensus estimate of $131.40 million. During the same quarter last year, the business posted $0.30 EPS. Comtech Telecommunications Corp.’s revenue was up 73.5% compared to the same quarter last year. On average, equities analysts expect that Comtech Telecommunications Corp. will post ($0.80) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders 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 annualized dividend and a dividend yield of 9.18%.
Several large investors have recently added to or reduced their stakes in CMTL. 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. 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 valued at $1,914,000 after buying an additional 76,560 shares during the period. Finally, 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.
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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