Brokerages Set Comtech Telecomm. Corp. (CMTL) PT at $21.30

Shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) have received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.30.

CMTL has been the topic of several recent research reports. BMO Capital Markets reissued a “buy” rating and set a $21.00 price target on shares of Comtech Telecomm. in a research report on Thursday, September 28th. Zacks Investment Research cut shares of Comtech Telecomm. from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Noble Financial reissued a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, September 29th. Finally, Northland Securities reissued a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, November 17th.

Shares of Comtech Telecomm. (NASDAQ:CMTL) traded down $0.02 during mid-day trading on Monday, hitting $22.37. 117,626 shares of the stock traded hands, compared to its average volume of 246,237. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.25 and a current ratio of 1.77. The firm has a market cap of $534.71, a PE ratio of 59.60, a price-to-earnings-growth ratio of 10.22 and a beta of 1.91. Comtech Telecomm. has a 1 year low of $10.51 and a 1 year high of $23.90.

Comtech Telecomm. (NASDAQ:CMTL) last announced its quarterly earnings results on Wednesday, December 6th. The communications equipment provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.22. The firm had revenue of $121.57 million for the quarter, compared to analysts’ expectations of $106.94 million. Comtech Telecomm. had a net margin of 3.11% and a return on equity of 1.87%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. analysts expect that Comtech Telecomm. will post 0.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Wednesday, January 17th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, January 16th. This represents a $0.40 annualized dividend and a yield of 1.79%. Comtech Telecomm.’s dividend payout ratio (DPR) is currently 56.34%.

In related news, CEO Fred Kornberg sold 15,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $20.65, for a total value of $309,750.00. Following the sale, the chief executive officer now directly owns 475,632 shares in the company, valued at approximately $9,821,800.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Porcelain sold 30,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $21.41, for a total transaction of $642,300.00. Following the completion of the sale, the insider now owns 71,668 shares in the company, valued at $1,534,411.88. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its holdings in Comtech Telecomm. by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,570 shares of the communications equipment provider’s stock valued at $106,000 after buying an additional 210 shares during the period. Macquarie Group Ltd. purchased a new stake in Comtech Telecomm. in the 3rd quarter valued at about $116,000. Russell Investments Group Ltd. purchased a new stake in Comtech Telecomm. in the 3rd quarter valued at about $117,000. SG Americas Securities LLC purchased a new stake in Comtech Telecomm. in the 3rd quarter valued at about $156,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Comtech Telecomm. by 182.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 8,200 shares of the communications equipment provider’s stock valued at $168,000 after buying an additional 5,300 shares during the period. Hedge funds and other institutional investors own 85.86% of the company’s stock.

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About Comtech Telecomm.

Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.

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