Brokers expect Comtech Telecommunications Corp. (NASDAQ:CMTL) will report sales of $125.23 million for the current quarter, according to Zacks Investment Research. Three analysts have released 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, which would indicate a negative growth rate of 22.4% year over year. The company is expected to release its next earnings report on Thursday, March 10.
According to Zacks, analysts expect Comtech Telecommunications to report revenue of $574.22 million for the current fiscal year, with estimates ranging from $565.70 to $581.76 million. For the next fiscal year, analysts expect the company to record sales of $620.37 million, with estimates ranging from $604.50 million to $635.00 million. Zacks sales averages are an average average based on a survey of sell-side research analysts who provide coverage for Comtech Telecommunications.
Comtech Telecommunications Inc (NASDAQ:CMTL) last released its quarterly results on Thursday, December 9. The communications equipment provider reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.07. Comtech Telecommunications achieved a return on equity of 3.27% and a net margin of 1.13%. The company posted revenue of $116.76 million for the quarter, compared to $115.80 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.15. The company’s revenue decreased by 13.7% compared to the same quarter last year.
Several research analysts have recently commented on CMTL’s actions. Zacks Investment Research downgraded Comtech Telecommunications from a “hold” rating to a “sell” rating in a Tuesday, Dec. 14 research report. Citigroup raised its target price on Comtech Telecommunications from $24.00 to $27.00 and gave the company a “neutral” rating in a Monday, Dec. 13 research report. Finally, Noble Financial downgraded Comtech Telecommunications from an “outperforming” rating to a “market performing” rating in a Tuesday, October 5 research report. One investment analyst gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.75.
Several institutional investors have recently changed their positions in CMTL. Ensign Peak Advisors Inc increased its stake in Comtech Telecommunications shares by 383.3% during the third quarter. Ensign Peak Advisors Inc now owns 5,800 shares of the communications equipment provider valued at $149,000 after purchasing an additional 4,600 shares during the period. Metropolitan Life Insurance Co NY increased its position in Comtech Telecommunications by 105,257.1% during the second quarter. Metropolitan Life Insurance Co NY now owns 7,375 shares of the communications equipment provider valued at $178,000 after buying an additional 7,368 shares last quarter. HighTower Advisors LLC purchased a new stake in Comtech Telecommunications during the third quarter, valued at approximately $214,000. Bank of Montreal Can increased its position in Comtech Telecommunications by 13.9% during the second quarter. Bank of Montreal Can now owns 8,324 shares of the communications equipment provider valued at $219,000 after buying an additional 1,017 shares last quarter. Finally, the Royal Bank of Canada increased its position in Comtech Telecommunications by 12.9% during the third quarter. Royal Bank of Canada now owns 8,971 shares of the communications equipment provider valued at $231,000 after buying an additional 1,024 shares last quarter. Hedge funds and other institutional investors hold 88.40% of the company’s shares.
Shares of Comtech Telecommunications opened at $20.51 on Friday. The company has a market capitalization of $540.38 million, a price-earnings ratio of 410.28 and a beta of 1.58. The company has a 50-day moving average price of $24.32 and a 200-day moving average price of $24.61. 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 12-month low of $20.22 and a 12-month high of $30.40.
The company also recently declared 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 1.95%. Comtech Telecommunications’ dividend payout ratio is currently 800.16%.
Company Profile 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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