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.
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.
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