Comtech Telecommunications (NASDAQ:CMTL) Posts Earnings Results, Beats Estimates By $0.02 EPS

Comtech Telecommunications (NASDAQ:CMTL) posted its quarterly earnings data on Sunday. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02, Fidelity Earnings reports. The business had revenue of $145.81 million during the quarter, compared to the consensus estimate of $148.90 million. Comtech Telecommunications had a negative net margin of 13.61% and a positive return on equity of 4.58%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share.

Shares of Comtech Telecommunications stock opened at $25.38 on Tuesday. The business’s 50 day simple moving average is $25.47 and its 200 day simple moving average is $24.87. Comtech Telecommunications has a 52-week low of $14.22 and a 52-week high of $30.40. The firm has a market cap of $661.63 million, a PE ratio of -8.06 and a beta of 1.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.47.

Several research analysts recently commented on CMTL shares. Citigroup raised their target price on Comtech Telecommunications from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Tuesday. Northland Securities cut their price objective on Comtech Telecommunications from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, June 9th. Noble Financial cut Comtech Telecommunications from an “outperform” rating to a “market perform” rating in a report on Tuesday. cut their price objective on Comtech Telecommunications from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, June 9th. Finally, Zacks Investment Research upgraded Comtech Telecommunications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.40.

A hedge fund recently raised its stake in Comtech Telecommunications stock. Morgan Stanley boosted its holdings in Comtech Telecommunications Corp. (NASDAQ:CMTL) by 22.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,891 shares of the communications equipment provider’s stock after acquiring an additional 20,467 shares during the period. Morgan Stanley owned 0.42% of Comtech Telecommunications worth $2,655,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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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Earnings History for Comtech Telecommunications (NASDAQ:CMTL)

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