Comtech Telecommunications Corp. (CMTL) Trading Up 2.7%
Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price was up 2.7% during mid-day trading on Thursday . The stock traded as high as $12.81 and last traded at $12.77, with a volume of 153,485 shares changing hands. The stock had previously closed at $12.43.
Several equities analysts have recently issued reports on CMTL shares. Zacks Investment Research upgraded Comtech Telecommunications Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th. BMO Capital Markets started coverage on Comtech Telecommunications Corp. in a research note on Monday, June 20th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Northland Securities started coverage on Comtech Telecommunications Corp. in a research note on Wednesday. They issued an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.00.
The firm has a 50 day moving average of $17.67 and a 200-day moving average of $20.42. The firm’s market capitalization is $212.16 million.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its earnings results on Wednesday, June 8th. The company reported ($0.89) EPS for the quarter, beating the Thomson Reuters’ 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. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 73.5% compared to the same quarter last year. On average, equities analysts forecast that Comtech Telecommunications Corp. will post ($0.84) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, July 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.20 annualized dividend and a yield of 9.15%.
Other large investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of Comtech Telecommunications Corp. by 26.9% in the fourth quarter. Morgan Stanley now owns 174,997 shares of the company’s stock valued at $3,515,000 after buying an additional 37,139 shares in the last quarter. 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 during the period. 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 worth $1,430,000 after buying an additional 1,520 shares during the period. 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 worth $1,537,000 after buying an additional 560 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Comtech Telecommunications Corp. by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 106,402 shares of the company’s stock worth $2,138,000 after buying an additional 4,854 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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