Trade Report: Today, Comtech Telecommunications Corp. (CMTL) Receives “Hold” Rating from Jefferies Group

Today, Comtech Telecommunications Corp. (CMTL) Receives “Hold” Rating from Jefferies Group

Jefferies Group reissued their hold rating on shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) in a report released on Wednesday morning. The firm currently has a $11.75 price target on the stock, down from their prior price target of $14.00.

Several other equities analysts have also recently weighed in on CMTL. Zacks Investment Research cut Comtech Telecommunications Corp. from a hold rating to a sell rating in a report on Tuesday, October 11th. Citigroup Inc. assumed coverage on shares of Comtech Telecommunications Corp. in a research note on Wednesday, August 24th. They issued a neutral rating and a $13.00 target price for the company. BMO Capital Markets assumed coverage on shares of Comtech Telecommunications Corp. in a research note on Monday, June 20th. They issued an outperform rating and a $19.00 target price for the company. Ladenburg Thalmann assumed coverage on shares of Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They issued a buy rating and a $19.00 target price for the company. Finally, Northland Securities assumed coverage on shares of Comtech Telecommunications Corp. in a research note 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, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $16.68.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 10.69 on Wednesday. Comtech Telecommunications Corp. has a 1-year low of $10.61 and a 1-year high of $25.85. The company’s market capitalization is $251.30 million. The stock has a 50 day moving average price of $12.61 and a 200 day moving average price of $16.62.

Comtech Telecommunications Corp. (NASDAQ:CMTL) last announced its quarterly earnings data on Thursday, October 6th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The company earned $152.40 million during the quarter. Comtech Telecommunications Corp. had a positive return on equity of 1.52% and a negative net margin of 1.88%. Comtech Telecommunications Corp.’s revenue was up 96.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. Analysts forecast that Comtech Telecommunications Corp. will post ($0.81) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $1.20 annualized dividend and a yield of 11.23%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently -235.29%.

In other Comtech Telecommunications Corp. news, Director Edwin Kantor sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $10.95, for a total transaction of $32,850.00. Following the completion of the sale, the director now directly owns 7,375 shares in the company, valued at $80,756.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.

A number of large investors have recently modified their holdings of the company. ClariVest Asset Management LLC increased its stake in shares of 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 period. Strs Ohio increased its stake in shares of 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 period. Louisiana State Employees Retirement System bought a new stake in shares of Comtech Telecommunications Corp. during the second quarter valued at about $132,000. New York State Teachers Retirement System increased its stake in shares of 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 period. Finally, Sentinel Trust Co. LBA increased its stake in shares of 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 period. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Comtech Telecommunications Corp. Company Profile

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