Comtech Telecommunications (NASDAQ:CMTL) Reduced to Sell on StockNews.com

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StockNews.com cut shares by Comtech Telecommunications (NASDAQ: CMTL – Get an Assessment) from a hold rating to a sell rating in a report released on Tuesday.

A number of other analysts have also released reports on the stock. Citigroup lowered its price target on Comtech Telecommunications shares from $20.00 to $14.00 and set a neutral rating for the company in a research note on Friday, June 10. TheStreet downgraded shares of Comtech Telecommunications from a c- to a d+ rating in a Wednesday, May 4, research note. Finally, Noble Financial upgraded shares of Comtech Telecommunications from a market performer rating to an outperformer rating and set a price target of $12.00 for the company in a research note on Monday.

CMTL opened at $9.12 on Tuesday. The company has a market capitalization of $241.93 million, a P/E ratio of -8.29 and a beta of 1.55. The company’s 50-day moving average is $13.03 and its 200-day moving average is $18.08. Comtech Telecommunications has a 52-week low of $8.93 and a 52-week high of $27.70. The company has a quick ratio of 0.88, a current ratio of 1.34 and a debt ratio of 0.27.

Comtech Telecommunications (NASDAQ:CMTL – Get Rating) last released its quarterly earnings data on Thursday, June 9. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.03). The company posted revenue of $122.17 million for the quarter, versus analyst estimates of $122.53 million. Comtech Telecommunications recorded a negative net margin of 4.06% and a positive return on equity of 1.03%. The company’s quarterly revenue was down 12.3% year over year. In the same quarter last year, the company posted earnings per share of $0.26. Stock analysts expect Comtech Telecommunications to post earnings per share of 0.31 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19. Shareholders of record on Wednesday, July 20 will receive a dividend of $0.10 per share. This represents an annualized dividend of $0.40 and a dividend yield of 4.39%. The ex-dividend date is Tuesday, July 19. The dividend payout ratio (DPR) of Comtech Telecommunications is -36.36%.

Institutional investors and hedge funds have recently changed their positions in the company. Mint Tower Capital Management BV acquired a new position in shares of Comtech Telecommunications during the fourth quarter worth $172,000. Levin Capital Strategies LP acquired a new stake in Comtech Telecommunications in the fourth quarter worth approximately $557,000. Clearline Capital LP acquired a new stake in Comtech Telecommunications in the fourth quarter worth approximately $2,181,000. UBS Asset Management Americas Inc. increased its stake in Comtech Telecommunications by 75.2% in the third quarter. UBS Asset Management Americas Inc. now owns 22,586 shares of the communications equipment provider worth $578,000 after purchasing an additional 9,694 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Comtech Telecommunications in the fourth quarter worth approximately $797,000. 73.67% of the shares are held by institutional investors.

Company Profile Comtech Telecommunications (Get an assessment)

Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces and markets products, systems and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Business Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters and network software for modulating, demodulating and amplify signals, as well as to transport voice, video and/or data over networks; and public safety and location-based technologies, such as 911 call handling and mapping solutions that enable mobile carriers and voice-over-internet carriers to route emergency calls to call centers in public safety emergency.

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