Comtech Telecommunications (NASDAQ:CMTL) Issues Earnings Results, Beats Estimates By $0.17 EPS

Comtech Telecommunications (NASDAQ:CMTL) posted its quarterly earnings results on Monday. The communications equipment provider reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.17, Zacks reports. Comtech Telecommunications had a negative return on equity of 15.38% and a negative net margin of 51.28%.

Comtech Telecommunications Stock Performance

Shares of CMTL stock traded down $0.04 on Monday, hitting $3.00. The stock had a trading volume of 1,656,742 shares, compared to its average volume of 307,659. The stock’s 50 day moving average is $2.70 and its 200-day moving average is $2.31. The firm has a market capitalization of $88.19 million, a price-to-earnings ratio of -0.30 and a beta of 1.33. Comtech Telecommunications has a 52-week low of $1.19 and a 52-week high of $4.88.

Hedge Funds Weigh In On Comtech Telecommunications

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Comtech Telecommunications by 25.9% during the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after acquiring an additional 5,192 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Comtech Telecommunications in the first quarter valued at about $59,000. Goldman Sachs Group Inc. boosted its holdings in Comtech Telecommunications by 86.8% in the first quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 20,726 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Comtech Telecommunications by 87.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock valued at $289,000 after purchasing an additional 54,879 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Comtech Telecommunications by 15.4% during the 2nd quarter. Marshall Wace LLP now owns 269,932 shares of the communications equipment provider’s stock worth $661,000 after purchasing an additional 36,069 shares during the last quarter.

Analyst Upgrades and Downgrades

CMTL has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Comtech Telecommunications in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.00.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company’s Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.