Comtech Telecommunications Corp. (CMTL) Issues FY17 Earnings Guidance
Comtech Telecommunications Corp. (NASDAQ:CMTL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of ~$0.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33. The company issued revenue guidance of ~$600 million, compared to the consensus revenue estimate of $638.88 million.
Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) traded up 0.24% during trading on Thursday, hitting $12.66. 489,054 shares of the company were exchanged. Comtech Telecommunications Corp. has a 12 month low of $11.24 and a 12 month high of $25.85. The firm’s market capitalization is $204.72 million. The firm’s 50-day moving average price is $12.95 and its 200 day moving average price is $17.28.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings results on Thursday, October 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. Comtech Telecommunications Corp. had a negative net margin of 1.48% and a positive return on equity of 2.19%. The business earned $152.40 million during the quarter, compared to analyst estimates of $165.59 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up 96.7% compared to the same quarter last year. On average, equities research analysts expect that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.48%. Comtech Telecommunications Corp.’s payout ratio is -387.10%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Comtech Telecommunications Corp. from a hold rating to a buy rating and set a $15.00 target price for the company in a report on Monday, July 11th. Citigroup Inc. assumed coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, August 24th. They set a neutral rating and a $13.00 target price for the company. Jefferies Group assumed coverage on shares of Comtech Telecommunications Corp. in a report on Tuesday, August 2nd. They set a hold rating and a $14.00 target price for the company. Northland Securities assumed coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, July 6th. They set an outperform rating and a $20.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Comtech Telecommunications Corp. in a report on Monday, June 20th. They set an outperform rating and a $19.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $19.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System bought a new position in Comtech Telecommunications Corp. during the second quarter worth approximately $180,000. Highbridge Capital Management LLC bought a new position in Comtech Telecommunications Corp. during the second quarter worth approximately $456,000. Cubist Systematic Strategies LLC bought a new position in Comtech Telecommunications Corp. during the second quarter worth approximately $152,000. Guggenheim Capital LLC boosted its position in Comtech Telecommunications Corp. by 4.2% in the second quarter. Guggenheim Capital LLC now owns 84,804 shares of the company’s stock worth $1,089,000 after buying an additional 3,406 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in Comtech Telecommunications Corp. by 1,709.5% in the second quarter. Citadel Advisors LLC now owns 364,991 shares of the company’s stock worth $4,686,000 after buying an additional 344,820 shares during the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
About Comtech Telecommunications Corp.
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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