Comtech Telecommunications (NASDAQ:CMTL) Posts Earnings Results

Comtech Telecommunications (NASDAQ:CMTLGet Rating) announced its quarterly earnings results on Thursday. The communications equipment provider reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03), Fidelity Earnings reports. Comtech Telecommunications had a negative net margin of 4.06% and a positive return on equity of 1.02%. The business had revenue of $122.17 million during the quarter, compared to analysts’ expectations of $122.53 million. During the same period last year, the business earned $0.26 earnings per share. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. Comtech Telecommunications updated its Q4 2022 guidance to EPS and its FY 2022 guidance to EPS.

Shares of CMTL stock opened at $9.69 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 1.28. The stock has a market capitalization of $256.98 million, a P/E ratio of -8.81 and a beta of 1.55. The company has a 50 day moving average price of $13.28 and a 200 day moving average price of $18.38. Comtech Telecommunications has a fifty-two week low of $8.96 and a fifty-two week high of $27.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Wednesday, July 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, July 19th. Comtech Telecommunications’s dividend payout ratio (DPR) is currently -36.36%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC grew its holdings in Comtech Telecommunications by 130.9% during the 1st quarter. Gabelli Funds LLC now owns 170,423 shares of the communications equipment provider’s stock worth $2,674,000 after acquiring an additional 96,602 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Comtech Telecommunications by 137.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 136,478 shares of the communications equipment provider’s stock worth $2,142,000 after acquiring an additional 78,919 shares in the last quarter. State Street Corp grew its holdings in Comtech Telecommunications by 4.0% during the 1st quarter. State Street Corp now owns 931,223 shares of the communications equipment provider’s stock worth $14,611,000 after acquiring an additional 35,803 shares in the last quarter. Invesco Ltd. grew its holdings in Comtech Telecommunications by 32.1% during the 1st quarter. Invesco Ltd. now owns 309,171 shares of the communications equipment provider’s stock worth $4,851,000 after acquiring an additional 75,126 shares in the last quarter. Finally, UBS Group AG grew its holdings in Comtech Telecommunications by 6.8% during the 1st quarter. UBS Group AG now owns 18,514 shares of the communications equipment provider’s stock worth $291,000 after acquiring an additional 1,171 shares in the last quarter. Institutional investors own 73.67% of the company’s stock.

CMTL has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Comtech Telecommunications in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet cut shares of Comtech Telecommunications from a “c-” rating to a “d+” rating in a report on Wednesday, May 4th. Finally, Citigroup dropped their price objective on shares of Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday.

Comtech Telecommunications Company Profile (Get Rating)

Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Commercial Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters, and network software to modulate, demodulate, and amplify signals, as well as to carry voice, video, and/or data over networks; and public safety and location technologies, such as 911 call handling and mapping solutions that allow cellular carriers and voice over the Internet carriers to deliver emergency calls to public safety emergency call centers.

Featured Articles

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.