Comtech Telecommunications (NASDAQ:CMTL) Issues Earnings Results

Comtech Telecommunications (NASDAQ:CMTL) announced its quarterly earnings data on Sunday. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02, Fidelity Earnings reports. Comtech Telecommunications had a negative net margin of 13.61% and a positive return on equity of 4.58%. The business had revenue of $145.81 million during the quarter, compared to analyst estimates of $148.90 million. During the same period last year, the firm posted $0.21 EPS. The company’s revenue was down 2.6% on a year-over-year basis.

Shares of CMTL stock traded down $2.01 during trading hours on Tuesday, hitting $23.37. 20,926 shares of the company’s stock were exchanged, compared to its average volume of 201,177. The firm has a 50 day moving average of $25.47 and a two-hundred day moving average of $24.87. Comtech Telecommunications has a fifty-two week low of $14.22 and a fifty-two week high of $30.40. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.44. The firm has a market cap of $609.23 million, a P/E ratio of -7.18 and a beta of 1.88.

An institutional investor recently raised its position in Comtech Telecommunications stock. Morgan Stanley increased its position in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 22.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,891 shares of the communications equipment provider’s stock after acquiring an additional 20,467 shares during the period. Morgan Stanley owned about 0.42% of Comtech Telecommunications worth $2,655,000 at the end of the most recent quarter. 76.47% of the stock is currently owned by institutional investors.

Several research analysts have commented on CMTL shares. Noble Financial lowered shares of Comtech Telecommunications from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Northland Securities decreased their target price on Comtech Telecommunications from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, June 9th. Citigroup decreased their target price on Comtech Telecommunications from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. decreased their target price on Comtech Telecommunications from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, June 9th. Finally, Zacks Investment Research upgraded Comtech Telecommunications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Comtech Telecommunications presently has an average rating of “Hold” and an average target price of $27.00.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp. engages in the design, development, production, and market of products, systems, and services for advanced communications solutions. It operates through the Commercial Solutions and Government Solutions segment. The Commercial Solutions segment offers satellite communications, public safety systems, and enterprise application technologies for commercial customers and smaller government customers.

Read More: CBOE Russell 2000® Volatility Index

Earnings History for Comtech Telecommunications (NASDAQ:CMTL)

Receive News & Ratings for Comtech Telecommunications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comtech Telecommunications and related companies with MarketBeat.com's FREE daily email newsletter.