Comtech Telecommunications (NASDAQ:CMTL) Raised to Hold at Zacks Research

Comtech Telecommunications (NASDAQ:CMTL) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

CMTL has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Comtech Telecommunications in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Comtech Telecommunications from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Comtech Telecommunications currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Comtech Telecommunications Price Performance

Shares of NASDAQ:CMTL opened at $2.87 on Wednesday. Comtech Telecommunications has a 1 year low of $1.19 and a 1 year high of $4.88. The company has a market capitalization of $84.98 million, a PE ratio of -0.29 and a beta of 1.33. The business has a fifty day moving average price of $2.87 and a two-hundred day moving average price of $2.41.

Comtech Telecommunications (NASDAQ:CMTL) last posted its quarterly earnings data on Wednesday, June 21st. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $122.12 million during the quarter. Comtech Telecommunications had a negative net margin of 51.28% and a negative return on equity of 15.38%. Comtech Telecommunications has set its FY 2023 guidance at EPS. Sell-side analysts anticipate that Comtech Telecommunications will post -2.38 earnings per share for the current year.

Institutional Investors Weigh In On Comtech Telecommunications

A number of institutional investors have recently made changes to their positions in CMTL. Jacobs Levy Equity Management Inc. purchased a new stake in Comtech Telecommunications during the 3rd quarter valued at about $92,000. Susquehanna International Group LLP raised its holdings in Comtech Telecommunications by 112.8% during the 3rd quarter. Susquehanna International Group LLP now owns 44,786 shares of the communications equipment provider’s stock valued at $116,000 after buying an additional 23,738 shares during the last quarter. Two Sigma Investments LP grew its holdings in Comtech Telecommunications by 71.4% in the 3rd quarter. Two Sigma Investments LP now owns 256,607 shares of the communications equipment provider’s stock worth $662,000 after acquiring an additional 106,866 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Comtech Telecommunications during the third quarter worth about $80,000. Finally, UBS Group AG grew its stake in shares of Comtech Telecommunications by 1.8% in the third quarter. UBS Group AG now owns 236,937 shares of the communications equipment provider’s stock worth $611,000 after purchasing an additional 4,157 shares during the last quarter.

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.