Analysts expect that Comtech Telecomm. Corp. (NASDAQ:CMTL) will announce sales of $168.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Comtech Telecomm.’s earnings. The lowest sales estimate is $168.00 million and the highest is $169.30 million. Comtech Telecomm. reported sales of $164.13 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The firm is expected to report its next quarterly earnings results on Wednesday, March 4th.
According to Zacks, analysts expect that Comtech Telecomm. will report full year sales of $720.95 million for the current year, with estimates ranging from $719.90 million to $722.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $753.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Comtech Telecomm..
Comtech Telecomm. (NASDAQ:CMTL) last issued its earnings results on Wednesday, December 4th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. Comtech Telecomm. had a net margin of 4.10% and a return on equity of 6.64%. The firm had revenue of $170.30 million during the quarter, compared to analysts’ expectations of $153.83 million. During the same period last year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year.
A number of research firms have recently weighed in on CMTL. Noble Financial restated a “buy” rating and set a $40.00 price target on shares of Comtech Telecomm. in a report on Thursday, November 28th. BidaskClub downgraded shares of Comtech Telecomm. from a “strong-buy” rating to a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of Comtech Telecomm. from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Citigroup lifted their target price on shares of Comtech Telecomm. from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Northland Securities initiated coverage on shares of Comtech Telecomm. in a report on Thursday, December 5th. They issued a “buy” rating and a $44.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $37.50.
In related news, VP Richard L. Burt sold 40,703 shares of Comtech Telecomm. stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $34.33, for a total value of $1,397,333.99. Following the transaction, the vice president now owns 70,187 shares in the company, valued at approximately $2,409,519.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CMTL. Rhumbline Advisers grew its position in Comtech Telecomm. by 6.6% in the 3rd quarter. Rhumbline Advisers now owns 76,892 shares of the communications equipment provider’s stock worth $2,499,000 after purchasing an additional 4,771 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of Comtech Telecomm. by 2.1% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 270,050 shares of the communications equipment provider’s stock valued at $7,591,000 after acquiring an additional 5,504 shares in the last quarter. BlackRock Inc. boosted its position in shares of Comtech Telecomm. by 1.4% during the 2nd quarter. BlackRock Inc. now owns 3,693,900 shares of the communications equipment provider’s stock valued at $103,837,000 after acquiring an additional 51,581 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Comtech Telecomm. during the 3rd quarter valued at about $1,663,000. Finally, Millennium Management LLC boosted its position in shares of Comtech Telecomm. by 420.9% during the 3rd quarter. Millennium Management LLC now owns 371,916 shares of the communications equipment provider’s stock valued at $12,087,000 after acquiring an additional 300,523 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.
Shares of Comtech Telecomm. stock traded up $0.13 during midday trading on Friday, reaching $34.61. 145,202 shares of the company’s stock traded hands, compared to its average volume of 159,558. The company has a market cap of $844.14 million, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 4.91 and a beta of 1.52. The company’s 50 day simple moving average is $35.29 and its 200 day simple moving average is $29.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.47 and a current ratio of 1.95. Comtech Telecomm. has a 52 week low of $20.94 and a 52 week high of $38.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.40 annualized dividend and a yield of 1.16%. Comtech Telecomm.’s dividend payout ratio (DPR) is presently 29.85%.
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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