Trading Report: Today, Noble Financial Reaffirms “Buy” Rating for Comtech Telecommunications Corp. (CMTL)

Today, Noble Financial Reaffirms “Buy” Rating for Comtech Telecommunications Corp. (CMTL)

Noble Financial restated their buy rating on shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) in a research report released on Wednesday morning. The firm currently has a $20.00 price target on the stock.

Several other equities research analysts have also recently commented on CMTL. Zacks Investment Research cut Comtech Telecommunications Corp. from a hold rating to a sell rating in a research note on Tuesday, October 11th. Citigroup Inc. began coverage on Comtech Telecommunications Corp. in a research note on Wednesday, August 24th. They set a neutral rating and a $13.00 target price for the company. Jefferies Group reaffirmed a hold rating and set a $11.75 target price (down previously from $14.00) on shares of Comtech Telecommunications Corp. in a research note on Wednesday, October 12th. BMO Capital Markets began coverage on Comtech Telecommunications Corp. in a research note on Monday, June 20th. They set an outperform rating and a $19.00 target price for the company. Finally, Ladenburg Thalmann began coverage on Comtech Telecommunications Corp. in a research note on Friday, July 22nd. They set a buy rating and a $19.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Comtech Telecommunications Corp. has an average rating of Hold and an average target price of $16.68.

Shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) opened at 10.69 on Wednesday. Comtech Telecommunications Corp. has a 52 week low of $10.61 and a 52 week high of $25.85. The stock’s 50 day moving average price is $12.61 and its 200-day moving average price is $16.62. The company’s market cap is $251.30 million.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Friday, October 21st will be paid a $0.30 dividend. The ex-dividend date is Wednesday, October 19th. This represents a $1.20 dividend on an annualized basis 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 stock was sold at an average price of $10.95, for a total value of $32,850.00. Following the completion of the sale, the director now owns 7,375 shares of the company’s stock, valued at $80,756.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 worth $460,000 after buying an additional 1,400 shares in 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 worth $389,000 after buying an additional 2,300 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Comtech Telecommunications Corp. during the second quarter worth $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 worth $784,000 after buying an additional 200 shares in 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 worth $808,000 after buying an additional 11,795 shares in the last quarter. Institutional investors own 83.12% of the company’s stock.

Comtech Telecommunications Corp. Company Profile

Related posts

Leave a Comment