Trading Report: The Comtech Telecommunications Corp. (CMTL) Sets New 1-Year Low Following Analyst Downgrade

The Comtech Telecommunications Corp. (CMTL) Sets New 1-Year Low Following Analyst Downgrade

Comtech Telecommunications Corp. (NASDAQ:CMTL)’s share price reached a new 52-week low on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The stock traded as low as $10.94 and last traded at $11.17, with a volume of 161,122 shares changing hands. The stock had previously closed at $11.37.

Several other research firms have also weighed in on CMTL. BMO Capital Markets began coverage on shares of Comtech Telecommunications Corp. in a research report on Monday, June 20th. They set an “outperform” rating and a $19.00 price objective for the company. Ladenburg Thalmann assumed coverage on shares of Comtech Telecommunications Corp. in a report on Friday, July 22nd. They issued a “buy” rating and a $19.00 target price for the company. Jefferies Group assumed coverage on shares of Comtech Telecommunications Corp. in a report on Tuesday, August 2nd. They issued a “hold” rating and a $14.00 target price for the company. Citigroup Inc. assumed coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, August 24th. They issued a “neutral” rating and a $13.00 target price for the company. Finally, Northland Securities assumed coverage on shares of Comtech Telecommunications Corp. in a report on Wednesday, July 6th. They issued an “outperform” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.68.

Several institutional investors have recently bought and sold shares of CMTL. ClariVest Asset Management LLC raised its position in Comtech Telecommunications Corp. by 4.1% in the second quarter. ClariVest Asset Management LLC now owns 35,909 shares of the company’s stock valued at $460,000 after buying an additional 1,400 shares during the last quarter. Strs Ohio raised its position in Comtech Telecommunications Corp. by 8.2% in the second quarter. Strs Ohio now owns 30,300 shares of the company’s stock valued at $389,000 after buying an additional 2,300 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Comtech Telecommunications Corp. during the second quarter valued at about $132,000. New York State Teachers Retirement System raised its position in Comtech Telecommunications Corp. by 0.3% in the second quarter. New York State Teachers Retirement System now owns 61,024 shares of the company’s stock valued at $784,000 after buying an additional 200 shares during the last quarter. Finally, Sentinel Trust Co. LBA raised its position in Comtech Telecommunications Corp. by 23.0% in the second quarter. Sentinel Trust Co. LBA now owns 62,986 shares of the company’s stock valued at $808,000 after buying an additional 11,795 shares during the last quarter. Institutional investors own 83.12% of the company’s stock.

The stock has a 50-day moving average of $12.72 and a 200-day moving average of $16.89. The company’s market capitalization is $252.24 million.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last released its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.04. The business had revenue of $152.40 million for the quarter. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. The business’s quarterly revenue was up 96.7% compared to the same quarter last year. During the same period last year, the business earned $0.34 earnings per share. Equities research analysts predict that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Friday, October 21st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 11.18%. The ex-dividend date is Wednesday, October 19th. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently -235.29%.

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