California Public Employees Retirement System reduced its stake in shares of Comtech Telecomm. Corp. (NASDAQ:CMTL) by 2.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 376,809 shares of the communications equipment provider’s stock after selling 7,986 shares during the period. California Public Employees Retirement System owned approximately 1.60% of Comtech Telecomm. worth $7,736,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Comtech Telecomm. by 11.4% during 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 during the period. CNA Financial Corp grew its position in Comtech Telecomm. by 25.1% during the 2nd quarter. CNA Financial Corp now owns 80,719 shares of the communications equipment provider’s stock worth $1,531,000 after purchasing an additional 16,200 shares during the period. Paradigm Capital Management Inc. NY grew its position in Comtech Telecomm. by 127.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 530,000 shares of the communications equipment provider’s stock worth $10,054,000 after purchasing an additional 297,200 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Comtech Telecomm. during the 2nd quarter worth about $1,494,000. Finally, Uniplan Investment Counsel Inc. grew its position in Comtech Telecomm. by 149.3% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 566,738 shares of the communications equipment provider’s stock worth $10,751,000 after purchasing an additional 339,399 shares during the period. 85.86% of the stock is currently owned by institutional investors.
CMTL has been the topic of several analyst reports. Zacks Investment Research raised Comtech Telecomm. from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, December 12th. Northland Securities reaffirmed a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, November 17th. BMO Capital Markets increased their price target on Comtech Telecomm. to $26.00 and gave the stock an “outperform” rating in a research report on Friday, December 8th. Finally, Noble Financial restated a “buy” rating on shares of Comtech Telecomm. in a research report on Friday, September 29th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.30.
Shares of Comtech Telecomm. Corp. (NASDAQ CMTL) opened at $22.12 on Tuesday. Comtech Telecomm. Corp. has a 12-month low of $10.51 and a 12-month 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 $522.20, a PE ratio of 31.15, a PEG ratio of 9.98 and a beta of 1.91.
Comtech Telecomm. (NASDAQ:CMTL) last posted its earnings results on Wednesday, December 6th. The communications equipment provider reported ($0.07) EPS for the quarter, beating the Zacks’ 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 firm had revenue of $121.57 million for the quarter, compared to analysts’ expectations of $106.94 million. During the same period last year, the firm earned ($0.11) EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. analysts predict that Comtech Telecomm. Corp. will post 0.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, January 17th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Tuesday, January 16th. Comtech Telecomm.’s dividend payout ratio (DPR) is presently 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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