Brokerages expect Comtech Telecomm. Corp. (NASDAQ:CMTL) to post sales of $172.67 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Comtech Telecomm.’s earnings. The lowest sales estimate is $167.70 million and the highest is $177.30 million. Comtech Telecomm. reported sales of $147.76 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.9%. The firm is scheduled to announce its next earnings results on Wednesday, September 26th.
According to Zacks, analysts expect that Comtech Telecomm. will report full-year sales of $575.82 million for the current year, with estimates ranging from $570.80 million to $580.50 million. For the next year, analysts expect that the company will post sales of $604.90 million per share, with estimates ranging from $598.90 million to $610.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Comtech Telecomm..
A number of research firms have recently issued reports on CMTL. Zacks Investment Research downgraded shares of Comtech Telecomm. from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. BidaskClub upgraded shares of Comtech Telecomm. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. Noble Financial reiterated a “buy” rating and set a $34.00 price objective on shares of Comtech Telecomm. in a research note on Thursday, June 7th. Citigroup increased their price objective on shares of Comtech Telecomm. from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, June 8th. Finally, BMO Capital Markets increased their price objective on shares of Comtech Telecomm. from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, June 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.83.
A number of large investors have recently bought and sold shares of CMTL. BlackRock Inc. lifted its position in Comtech Telecomm. by 7.6% during the second quarter. BlackRock Inc. now owns 3,438,804 shares of the communications equipment provider’s stock valued at $109,631,000 after acquiring an additional 242,849 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Comtech Telecomm. during the first quarter valued at approximately $3,582,000. WINTON GROUP Ltd purchased a new stake in Comtech Telecomm. during the first quarter valued at approximately $2,296,000. Prudential Financial Inc. lifted its position in Comtech Telecomm. by 111.6% during the first quarter. Prudential Financial Inc. now owns 115,375 shares of the communications equipment provider’s stock valued at $3,448,000 after acquiring an additional 60,850 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Comtech Telecomm. during the second quarter valued at approximately $1,457,000. 86.90% of the stock is owned by institutional investors.
Shares of NASDAQ CMTL traded down $0.53 during midday trading on Friday, reaching $33.22. 104,378 shares of the company’s stock traded hands, compared to its average volume of 86,693. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 1.72. Comtech Telecomm. has a one year low of $17.11 and a one year high of $36.80. The company has a market cap of $788.46 million, a PE ratio of 97.71, a P/E/G ratio of 8.82 and a beta of 1.49.
Comtech Telecomm. Company Profile
Comtech Telecommunications Corp. designs, develops, produces, and markets products, systems, and services for communications solutions. The company's Commercial Solutions segment provides ground-based equipment, such as single channel per carrier modems and solid state amplifiers that facilitate the transmission of voice, video, and data, as well as offers traveling wave tube amplifiers comprising high power narrow-band amplifiers that are used to amplify signals from satellite earth stations; and safety and security technology solutions that enable 911 c.
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