Zacks: Brokerages Anticipate Comtech Telecomm. Corp. (CMTL) Will Announce Quarterly Sales of $124.00 Million

Analysts expect that Comtech Telecomm. Corp. (NASDAQ:CMTL) will post $124.00 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Comtech Telecomm.’s earnings. The lowest sales estimate is $123.50 million and the highest is $125.00 million. Comtech Telecomm. posted sales of $139.03 million in the same quarter last year, which suggests a negative year over year growth rate of 10.8%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that Comtech Telecomm. will report full year sales of $124.00 million for the current financial year, with estimates ranging from $550.40 million to $561.80 million. For the next fiscal year, analysts anticipate that the business will post sales of $563.97 million per share, with estimates ranging from $556.40 million to $575.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Comtech Telecomm..

Comtech Telecomm. (NASDAQ:CMTL) last posted its earnings results on Wednesday, December 6th. The communications equipment provider reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.22. Comtech Telecomm. had a return on equity of 1.87% and a net margin of 3.11%. The business had revenue of $121.57 million during the quarter, compared to analysts’ expectations of $106.94 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis.

Several equities analysts recently commented on CMTL shares. Northland Securities restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, November 17th. Zacks Investment Research cut Comtech Telecomm. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. BMO Capital Markets boosted their target price on Comtech Telecomm. to $26.00 and gave the stock an “outperform” rating in a research report on Friday, December 8th. Finally, BidaskClub cut Comtech Telecomm. from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.30.

In other news, insider Michael Porcelain sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $21.41, for a total value of $642,300.00. Following the completion of the transaction, the insider now directly owns 71,668 shares in the company, valued at approximately $1,534,411.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred Kornberg sold 15,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $20.65, for a total value of $309,750.00. Following the completion of the transaction, the chief executive officer now owns 475,632 shares of the company’s stock, valued at $9,821,800.80. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Comtech Telecomm. by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,883,821 shares of the communications equipment provider’s stock worth $35,736,000 after purchasing an additional 192,707 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Comtech Telecomm. by 57.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 123,716 shares of the communications equipment provider’s stock worth $2,540,000 after purchasing an additional 44,980 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Comtech Telecomm. by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,320,060 shares of the communications equipment provider’s stock worth $25,042,000 after purchasing an additional 82,685 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Comtech Telecomm. by 63.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,703 shares of the communications equipment provider’s stock worth $405,000 after purchasing an additional 7,648 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Comtech Telecomm. by 2.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 397,367 shares of the communications equipment provider’s stock valued at $8,158,000 after acquiring an additional 8,251 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

Comtech Telecomm. (NASDAQ CMTL) opened at $21.89 on Wednesday. Comtech Telecomm. has a 52-week low of $10.95 and a 52-week high of $23.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.25 and a current ratio of 1.77. The company has a market capitalization of $516.53, a PE ratio of 30.83, a P/E/G ratio of 9.87 and a beta of 1.83.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Wednesday, January 17th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, January 16th. Comtech Telecomm.’s payout ratio is currently 56.34%.

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Comtech Telecomm. 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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