Comtech Telecomm. Corp. (NASDAQ:CMTL) Expected to Post Quarterly Sales of $142.30 Million

Wall Street brokerages forecast that Comtech Telecomm. Corp. (NASDAQ:CMTL) will report $142.30 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Comtech Telecomm.’s earnings, with the highest sales estimate coming in at $145.00 million and the lowest estimate coming in at $139.60 million. Comtech Telecomm. posted sales of $176.37 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 19.3%. The company is expected to report its next earnings results on Tuesday, September 22nd.

On average, analysts expect that Comtech Telecomm. will report full year sales of $646.91 million for the current year, with estimates ranging from $606.70 million to $722.00 million. For the next fiscal year, analysts forecast that the company will post sales of $704.37 million, with estimates ranging from $604.40 million to $755.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Comtech Telecomm..

Comtech Telecomm. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, June 3rd. The communications equipment provider reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.22). Comtech Telecomm. had a net margin of 1.87% and a return on equity of 4.46%. The business had revenue of $135.12 million for the quarter, compared to analysts’ expectations of $146.55 million. During the same quarter in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 20.7% on a year-over-year basis.

Several equities analysts recently issued reports on the company. ValuEngine raised Comtech Telecomm. from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Northland Securities cut their target price on Comtech Telecomm. from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Zacks Investment Research downgraded Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd. TheStreet downgraded Comtech Telecomm. from a “b-” rating to a “c+” rating in a research report on Wednesday, March 25th. Finally, BidaskClub downgraded Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.75.

NASDAQ CMTL opened at $16.42 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 1.22. The stock’s fifty day moving average price is $17.23 and its 200 day moving average price is $24.16. Comtech Telecomm. has a 1 year low of $11.48 and a 1 year high of $38.00. The company has a market cap of $392.55 million, a price-to-earnings ratio of 33.51 and a beta of 2.02.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, July 14th. Comtech Telecomm.’s dividend payout ratio (DPR) is presently 29.85%.

A number of institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC lifted its stake in Comtech Telecomm. by 98.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,148,709 shares of the communications equipment provider’s stock valued at $40,768,000 after buying an additional 571,309 shares in the last quarter. State Street Corp lifted its stake in Comtech Telecomm. by 11.6% in the 1st quarter. State Street Corp now owns 902,145 shares of the communications equipment provider’s stock valued at $11,990,000 after buying an additional 93,569 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Comtech Telecomm. by 31.9% in the 4th quarter. Renaissance Technologies LLC now owns 665,150 shares of the communications equipment provider’s stock valued at $23,606,000 after buying an additional 160,700 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Comtech Telecomm. by 25.1% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 509,600 shares of the communications equipment provider’s stock valued at $6,773,000 after buying an additional 102,258 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Comtech Telecomm. by 3.3% in the 4th quarter. Nuveen Asset Management LLC now owns 411,945 shares of the communications equipment provider’s stock valued at $14,620,000 after buying an additional 13,072 shares in the last quarter. 86.53% of the stock is currently owned by hedge funds and other institutional investors.

About Comtech Telecomm.

Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment offers ground-based equipment, including single channel per carrier modems and solid-state amplifiers that facilitate the transmission of voice, video, and data over satellite links; and traveling wave tube amplifiers, such as high power narrow-band amplifiers used to amplify signals from satellite earth stations, as well as safety and security technologies.

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