Equity research analysts expect Comtech Telecommunications Corp. (NASDAQ:CMTL) will record sales of $125.23 million for the current fiscal quarter, reports Zacks Investment Research. Three analysts have made earnings estimates for Comtech Telecommunications. The highest sales estimate is $125.60 million and the lowest is $125.00 million. Comtech Telecommunications reported sales of $161.29 million in the same quarter last year, suggesting a negative 22.4% year-over-year growth rate. The company is expected to announce its next earnings report on Thursday, March 10.
On average, analysts expect Comtech Telecommunications to report annual revenue of $574.22 million for the current fiscal year, with estimates ranging from $565.70 to $581.76 million. For next year, analysts expect the company to record sales of $620.37 million, with estimates ranging from $604.50 million to $635.00 million. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side research firms that provide coverage for Comtech Telecommunications.
Comtech Telecommunications Inc (NASDAQ:CMTL) last announced its results on Thursday, December 9. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks consensus estimate of ($0.22) by $0.07. The company posted revenue of $116.76 million in the quarter, compared to analyst estimates of $115.80 million. Comtech Telecommunications achieved a net margin of 1.13% and a return on equity of 3.27%. Comtech Telecommunications revenue was down 13.7% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.15.
A number of brokerages have recently released reports on CMTL. Zacks Investment Research upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Wednesday. Citigroup raised its price target on Comtech Telecommunications shares from $24.00 to $27.00 and gave the company a “neutral” rating in a Monday, December 13 research report. Four analysts rated the stock with a hold rating and one assigned the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.75.
Institutional investors and hedge funds have recently changed their positions in the company. Vanguard Group Inc. increased its holdings of Comtech Telecommunications shares by 6.8% in the second quarter. Vanguard Group Inc. now owns 1,753,192 shares of the communications equipment provider worth $42,357,000 after purchasing an additional 111,190 shares during the period. Goldman Sachs Group Inc. increased its holdings of Comtech Telecommunications shares by 11.5% in the second quarter. Goldman Sachs Group Inc. now owns 58,886 shares of the communications equipment provider worth $1,422,000 after purchasing an additional 6,071 shares during the period. First Trust Advisors LP increased its holdings of Comtech Telecommunications shares by 101.4% in the second quarter. First Trust Advisors LP now owns 19,500 shares of the communications equipment provider worth $471,000 after buying an additional 9,817 shares during the period. Geode Capital Management LLC increased its holdings of Comtech Telecommunications shares by 6.8% in the second quarter. Geode Capital Management LLC now owns 444,221 shares of the communications equipment provider worth $10,732,000 after purchasing an additional 28,198 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Comtech Telecommunications shares by 7.7% in the third quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the communications equipment provider worth $323,000 after purchasing an additional 900 shares during the period. Institutional investors hold 88.40% of the company’s shares.
Shares of CMTL opened at $20.26 on Friday. The company has a 50-day moving average price of $22.50 and a 200-day moving average price of $24.22. The company has a market capitalization of $533.79 million, a PE ratio of 405.28 and a beta of 1.61. The company has a quick ratio of 0.95, a current ratio of 1.39 and a leverage ratio of 0.22. Comtech Telecommunications has a 52-week low of $19.08 and a 52-week high of $30.40.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 18. Shareholders of record on Wednesday, January 19 will receive a dividend of $0.10 per share. The ex-dividend date is Tuesday, January 18. This represents an annualized dividend of $0.40 and a dividend yield of 1.97%. The dividend payout ratio (DPR) of Comtech Telecommunications is 800.16%.
About Comtech Telecommunications
Comtech Telecommunications Corp. engages in the design, development, production and marketing of products, systems and services for advanced communication solutions. It operates through the following segments: Commercial Solutions and Government Solutions. The Commercial Solutions segment offers satellite communications, public safety systems and enterprise application technologies for commercial customers and small government customers.
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