Analysts expect that Comtech Telecommunications Corp. (NASDAQ:CMTL) will report $144.40 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Comtech Telecommunications’ earnings. The lowest sales estimate is $141.60 million and the highest is $146.60 million. Comtech Telecommunications reported sales of $127.79 million during the same quarter last year, which indicates a positive year over year growth rate of 13%. The company is expected to issue its next quarterly earnings report on Wednesday, June 6th.
On average, analysts expect that Comtech Telecommunications will report full-year sales of $575.40 million for the current fiscal year, with estimates ranging from $570.40 million to $580.50 million. For the next year, analysts anticipate that the company will report sales of $602.80 million per share, with estimates ranging from $599.00 million to $609.40 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Comtech Telecommunications.
Get Comtech Telecommunications alerts:Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings results on Wednesday, March 7th. The communications equipment provider reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.15. Comtech Telecommunications had a return on equity of 2.20% and a net margin of 4.87%. The company had revenue of $133.70 million for the quarter, compared to analyst estimates of $124.65 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year.
A number of research firms have commented on CMTL. Citigroup started coverage on Comtech Telecommunications in a research report on Thursday, May 17th. They set a “neutral” rating and a $33.00 target price on the stock. BidaskClub lowered Comtech Telecommunications from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Zacks Investment Research lowered Comtech Telecommunications from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. BMO Capital Markets upped their target price on Comtech Telecommunications to $35.00 and gave the company an “outperform” rating in a research note on Friday, March 9th. Finally, Jefferies Group reiterated a “hold” rating on shares of Comtech Telecommunications in a research note on Thursday, March 15th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Comtech Telecommunications presently has an average rating of “Buy” and a consensus price target of $28.10.
In other Comtech Telecommunications news, insider Richard L. Burt sold 82,700 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $30.46, for a total transaction of $2,519,042.00. Following the completion of the sale, the insider now directly owns 178,315 shares in the company, valued at $5,431,474.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edwin Kantor sold 3,318 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $30.49, for a total value of $101,165.82. Following the sale, the director now owns 4,057 shares of the company’s stock, valued at $123,697.93. The disclosure for this sale can be found here. Insiders have sold 116,018 shares of company stock valued at $3,590,708 over the last 90 days. 7.00% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Comtech Telecommunications by 1.7% in the first quarter. BlackRock Inc. now owns 3,195,955 shares of the communications equipment provider’s stock worth $95,528,000 after buying an additional 54,591 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Comtech Telecommunications 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 buying an additional 13,261 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Comtech Telecommunications 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 buying an additional 2,000 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in shares of Comtech Telecommunications 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 buying an additional 9,080 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Comtech Telecommunications 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 buying an additional 107,108 shares during the period. Institutional investors own 88.29% of the company’s stock.
Shares of Comtech Telecommunications traded up $0.28, reaching $31.09, during trading on Friday, Marketbeat reports. The company’s stock had a trading volume of 49,471 shares, compared to its average volume of 174,821. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.29. The company has a market cap of $736.00 million, a PE ratio of 91.44, a price-to-earnings-growth ratio of 11.43 and a beta of 1.49. Comtech Telecommunications has a 12-month low of $13.95 and a 12-month high of $32.94.
The company also recently declared a quarterly dividend, which was paid on Friday, May 18th. Shareholders of record on Wednesday, April 18th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, April 17th. This represents a $0.40 annualized dividend and a yield of 1.29%. Comtech Telecommunications’s dividend payout ratio is presently 117.65%.
About Comtech Telecommunications
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.
Get a free copy of the Zacks research report on Comtech Telecommunications (CMTL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment