Comtech Telecommunications (NASDAQ:CMTL) Posts Earnings Results, Beats Expectations By $0.17 EPS

Comtech Telecommunications (NASDAQ:CMTL) posted its quarterly earnings results on Monday. The communications equipment provider reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.17, Zacks reports. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%.

Comtech Telecommunications Stock Down 1.3%

CMTL stock traded down $0.04 during midday trading on Monday, reaching $3.00. The company had a trading volume of 1,656,742 shares, compared to its average volume of 307,659. The firm has a market capitalization of $88.19 million, a PE ratio of -0.30 and a beta of 1.33. The stock has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.31. Comtech Telecommunications has a fifty-two week low of $1.19 and a fifty-two week high of $4.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMTL. Wall Street Zen raised shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Comtech Telecommunications in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Comtech Telecommunications currently has an average rating of “Hold” and an average price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CMTL. Cetera Investment Advisers lifted its stake in Comtech Telecommunications by 25.9% in the second quarter. Cetera Investment Advisers now owns 25,250 shares of the communications equipment provider’s stock valued at $62,000 after buying an additional 5,192 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Comtech Telecommunications in the 1st quarter worth about $59,000. Goldman Sachs Group Inc. lifted its position in Comtech Telecommunications by 86.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,593 shares of the communications equipment provider’s stock valued at $71,000 after purchasing an additional 20,726 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Comtech Telecommunications by 87.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 117,965 shares of the communications equipment provider’s stock valued at $289,000 after purchasing an additional 54,879 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Comtech Telecommunications by 15.4% during the 2nd quarter. Marshall Wace LLP now owns 269,932 shares of the communications equipment provider’s stock valued at $661,000 after purchasing an additional 36,069 shares during the period.

Comtech Telecommunications Company Profile

Comtech Telecommunications Corp., together with its subsidiaries, engages in the provision of next-gen telecommunication solutions in the United States and internationally. The company’s Satellite and Space Communications segment offers satellite ground station technologies, services and system integration that facilitates the transmission of voice, video, and data over GEO, MEO and LEO satellite constellations, including solid-state and traveling wave tube power amplifiers, modems, VSAT platforms, and frequency converters; and satellite communications and tracking antenna systems, including high precision full motion fixed and mobile X/Y tracking antennas, RF feeds, reflectors, and radomes.