Comtech Telecomm. (NASDAQ:CMTL) had its price target lifted by BMO Capital Markets to $35.00 in a research note released on Friday morning. They currently have an outperform rating on the communications equipment provider’s stock.
CMTL has been the subject of a number of other research reports. Zacks Investment Research cut Comtech Telecomm. from a buy rating to a hold rating in a research report on Wednesday, November 29th. Northland Securities reaffirmed a buy rating on shares of Comtech Telecomm. in a research report on Friday, November 17th. 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. Comtech Telecomm. has an average rating of Hold and an average target price of $23.10.
Shares of Comtech Telecomm. (CMTL) opened at $30.74 on Friday. Comtech Telecomm. has a 12-month low of $13.11 and a 12-month high of $31.40. The firm has a market capitalization of $725.70, a PE ratio of 28.20, a price-to-earnings-growth ratio of 5.31 and a beta of 1.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.82 and a quick ratio of 1.29.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Stockholders of record on Wednesday, April 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.30%. Comtech Telecomm.’s payout ratio is presently 36.70%.
In other news, insider Michael Porcelain sold 30,000 shares of Comtech Telecomm. 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 transaction, the insider now directly owns 71,668 shares in the company, valued at $1,534,411.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. bought a new position in shares of Comtech Telecomm. in the third quarter worth about $116,000. Russell Investments Group Ltd. bought a new position in shares of Comtech Telecomm. in the third quarter worth about $117,000. SG Americas Securities LLC bought a new position in shares of Comtech Telecomm. in the third quarter worth about $156,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Comtech Telecomm. by 182.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 8,200 shares of the communications equipment provider’s stock worth $168,000 after purchasing an additional 5,300 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Comtech Telecomm. by 58.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,840 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 3,270 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.
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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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