Zacks Investment Research upgraded shares of Comtech Telecomm. (NASDAQ:CMTL) from a hold rating to a strong-buy rating in a research note published on Monday morning. They currently have $37.00 target price on the communications equipment provider’s stock.
According to Zacks, “Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable, inefficient or too expensive. The Company conducts business through three complementary segments: telecommunications transmission, RF microwave amplifiers and mobile data communications. “
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Several other research firms also recently commented on CMTL. BidaskClub upgraded Comtech Telecomm. from a hold rating to a buy rating in a report on Wednesday, June 6th. Citigroup boosted their price objective on Comtech Telecomm. from $33.00 to $34.00 and gave the company a hold rating in a report on Friday. BMO Capital Markets boosted their price objective on Comtech Telecomm. from $35.00 to $37.00 and gave the company an outperform rating in a report on Friday. LADENBURG THALM/SH SH restated a buy rating and set a $35.00 price objective on shares of Comtech Telecomm. in a report on Thursday, June 7th. Finally, Noble Financial restated a buy rating and set a $34.00 price objective on shares of Comtech Telecomm. in a report on Thursday, June 7th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $33.83.
Comtech Telecomm. opened at $31.62 on Monday, according to Marketbeat Ratings. The company has a market cap of $752.05 million, a PE ratio of 93.00, a PEG ratio of 10.60 and a beta of 1.48. Comtech Telecomm. has a 52 week low of $17.11 and a 52 week high of $34.61. The company has a quick ratio of 1.22, a current ratio of 1.72 and a debt-to-equity ratio of 0.33.
Comtech Telecomm. (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, June 6th. The communications equipment provider reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.22. The firm had revenue of $147.85 million during the quarter, compared to the consensus estimate of $145.37 million. Comtech Telecomm. had a return on equity of 3.21% and a net margin of 5.38%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. equities analysts anticipate that Comtech Telecomm. will post 0.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 17th. Investors of record on Monday, July 16th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, July 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.27%. Comtech Telecomm.’s payout ratio is 117.65%.
In related news, Director Edwin Kantor sold 3,318 shares of Comtech Telecomm. stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $30.49, for a total transaction of $101,165.82. Following the transaction, the director now owns 4,057 shares of the company’s stock, valued at $123,697.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fred Kornberg sold 30,000 shares of Comtech Telecomm. stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $32.35, for a total value of $970,500.00. Following the transaction, the chief executive officer now directly owns 445,632 shares in the company, valued at approximately $14,416,195.20. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Comtech Telecomm. by 1.7% during the first quarter. BlackRock Inc. now owns 3,195,955 shares of the communications equipment provider’s stock valued at $95,528,000 after buying an additional 54,591 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Comtech Telecomm. by 3.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 410,628 shares of the communications equipment provider’s stock worth $9,084,000 after purchasing an additional 13,261 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Comtech Telecomm. by 0.6% in the first quarter. State of Wisconsin Investment Board now owns 320,000 shares of the communications equipment provider’s stock worth $9,565,000 after purchasing an additional 2,000 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Comtech Telecomm. by 3.1% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 302,183 shares of the communications equipment provider’s stock worth $6,684,000 after purchasing an additional 9,080 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Comtech Telecomm. by 62.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,610 shares of the communications equipment provider’s stock worth $6,185,000 after purchasing an additional 107,108 shares during the last quarter. 88.17% of the stock is currently owned by institutional investors.
About Comtech Telecomm.
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment provides ground-based equipment, such as single channel per carrier modems and solid state amplifiers that facilitate the transmission of voice, video, and data, as well as offers traveling wave tube amplifiers comprising high power narrow-band amplifiers that are used to amplify signals from satellite earth stations; and safety and security technology solutions that enable 911 c.
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