Comtech Telecomm. (CMTL) Posts Quarterly Earnings Results, Beats Estimates By $0.23 EPS
Comtech Telecomm. (NASDAQ:CMTL) issued its earnings results on Thursday. The communications equipment provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.23, Fidelity Earnings reports. The company had revenue of $160.80 million during the quarter, compared to the consensus estimate of $129.30 million. Comtech Telecomm. had a return on equity of 5.07% and a net margin of 5.72%. The firm’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. Comtech Telecomm. updated its FY19 guidance to $0.95-1.08 EPS.
NASDAQ:CMTL opened at $28.44 on Friday. The company has a market cap of $607.20 million, a P/E ratio of 24.66, a PEG ratio of 5.27 and a beta of 1.54. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. Comtech Telecomm. has a 1-year low of $20.25 and a 1-year high of $36.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 16th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, January 15th. This represents a $0.40 annualized dividend and a yield of 1.41%. Comtech Telecomm.’s payout ratio is currently 53.33%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Comtech Telecomm. by 6.4% in the 2nd quarter. FMR LLC now owns 29,500 shares of the communications equipment provider’s stock valued at $940,000 after acquiring an additional 1,770 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Comtech Telecomm. by 29.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,991 shares of the communications equipment provider’s stock valued at $255,000 after acquiring an additional 1,838 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Comtech Telecomm. by 25.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,503 shares of the communications equipment provider’s stock valued at $303,000 after acquiring an additional 1,939 shares in the last quarter. Teachers Advisors LLC raised its holdings in Comtech Telecomm. by 4.6% in the 3rd quarter. Teachers Advisors LLC now owns 46,274 shares of the communications equipment provider’s stock valued at $1,678,000 after acquiring an additional 2,025 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Comtech Telecomm. by 7.0% in the 2nd quarter. Legal & General Group Plc now owns 46,714 shares of the communications equipment provider’s stock valued at $1,493,000 after acquiring an additional 3,058 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. BidaskClub cut Comtech Telecomm. from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. ValuEngine cut Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research raised Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Monday, October 1st. BMO Capital Markets lifted their price target on Comtech Telecomm. from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, TheStreet cut Comtech Telecomm. from a “b-” rating to a “c+” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Comtech Telecomm. presently has a consensus rating of “Hold” and an average price target of $35.17.
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About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.
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