Comtech Telecommunications Corp. (NASDAQ:CMTL) CEO Fred Kornberg sold 30,000 shares of Comtech Telecommunications stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $32.35, for a total transaction of $970,500.00. Following the sale, the chief executive officer now owns 445,632 shares in the company, valued at $14,416,195.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of NASDAQ CMTL opened at $31.83 on Friday. The company has a market capitalization of $758.21, a PE ratio of 93.62, a PEG ratio of 11.78 and a beta of 1.49. Comtech Telecommunications Corp. has a 52-week low of $13.52 and a 52-week high of $32.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.82.
Comtech Telecommunications (NASDAQ:CMTL) last released its quarterly earnings data on Wednesday, March 7th. The communications equipment provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.15. The company had revenue of $133.70 million during the quarter, compared to analyst estimates of $124.65 million. Comtech Telecommunications had a net margin of 4.87% and a return on equity of 2.20%. Comtech Telecommunications’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. equities research analysts expect that Comtech Telecommunications Corp. will post 0.55 EPS for the current year.
The business 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 is Tuesday, April 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.26%. Comtech Telecommunications’s dividend payout ratio is currently 117.65%.
Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Comtech Telecommunications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 13th. Noble Financial reiterated an “average” rating on shares of Comtech Telecommunications in a research report on Friday, March 9th. Zacks Investment Research upgraded shares of Comtech Telecommunications from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, March 13th. BMO Capital Markets restated a “buy” rating on shares of Comtech Telecommunications in a research report on Thursday, March 8th. Finally, Jefferies Group restated a “hold” rating on shares of Comtech Telecommunications in a research report on Thursday, March 15th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $25.10.
Several large investors have recently added to or reduced their stakes in CMTL. Macquarie Group Ltd. bought a new stake in shares of Comtech Telecommunications in the 3rd quarter valued at $116,000. Russell Investments Group Ltd. bought a new stake in shares of Comtech Telecommunications in the 3rd quarter valued at $117,000. SG Americas Securities LLC bought a new stake in shares of Comtech Telecommunications in the 3rd quarter valued at $156,000. GHP Investment Advisors Inc. bought a new stake in shares of Comtech Telecommunications in the 4th quarter valued at $210,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Comtech Telecommunications in the 4th quarter valued at $226,000. Institutional investors own 87.72% of the company’s stock.
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About Comtech Telecommunications
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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