Dimensional Fund Advisors LP increased its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL) by 15.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,691,114 shares of the communications equipment provider’s stock after buying an additional 224,033 shares during the period. Dimensional Fund Advisors LP owned about 7.18% of Comtech Telecommunications Corp. worth $24,927,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC bought a new stake in shares of Comtech Telecommunications Corp. during the first quarter valued at about $3,438,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Comtech Telecommunications Corp. during the first quarter valued at about $3,431,000. Royce & Associates LP raised its stake in shares of Comtech Telecommunications Corp. by 9.3% in the first quarter. Royce & Associates LP now owns 1,407,584 shares of the communications equipment provider’s stock valued at $20,748,000 after buying an additional 119,689 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Comtech Telecommunications Corp. by 36.5% in the first quarter. Parametric Portfolio Associates LLC now owns 196,144 shares of the communications equipment provider’s stock valued at $2,891,000 after buying an additional 52,425 shares during the period. Finally, Airain ltd bought a new stake in shares of Comtech Telecommunications Corp. during the first quarter valued at about $681,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.
Shares of Comtech Telecommunications Corp. (NASDAQ CMTL) traded down 3.56% during trading on Friday, hitting $18.42. The stock had a trading volume of 41,882 shares. Comtech Telecommunications Corp. has a one year low of $9.52 and a one year high of $19.80. The company has a market cap of $434.16 million, a P/E ratio of 37.06 and a beta of 1.93. The stock’s 50-day moving average price is $18.62 and its 200-day moving average price is $15.27.
Comtech Telecommunications Corp. (NASDAQ:CMTL) last issued its quarterly earnings data on Wednesday, June 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. Comtech Telecommunications Corp. had a return on equity of 0.81% and a net margin of 2.02%. The firm had revenue of $127.80 million during the quarter, compared to analyst estimates of $136.68 million. During the same quarter last year, the firm earned ($0.89) EPS. Comtech Telecommunications Corp.’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Comtech Telecommunications Corp. will post $0.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 17th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.40 dividend on an annualized basis and a yield of 2.09%. Comtech Telecommunications Corp.’s dividend payout ratio (DPR) is presently 80.00%.
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CMTL has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Comtech Telecommunications Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Noble Financial reaffirmed a “buy” rating on shares of Comtech Telecommunications Corp. in a research report on Friday, June 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.50 target price on shares of Comtech Telecommunications Corp. in a research report on Thursday, June 8th. BMO Capital Markets reaffirmed a “buy” rating and issued a $17.00 target price on shares of Comtech Telecommunications Corp. in a research report on Wednesday, June 7th. Finally, BidaskClub downgraded Comtech Telecommunications Corp. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.42.
Comtech Telecommunications Corp. Company Profile
Comtech Telecommunications Corp. designs, develops, produces and markets products, systems and services for communications solutions. The Company operates through two segments: Commercial Solutions and Government Solutions. It offers communications solutions, including command and control technologies, safety and security technologies and enterprise technologies.
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