Comtech Telecommunications (NASDAQ:CMTL) Issues Earnings Results, Hits Expectations

Posted by on Jun 10th, 2022

Comtech Telecommunications (NASDAQ:CMTL – Get Rating) announced its quarterly earnings results on Thursday. The communications equipment provider reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03), Fidelity Earnings reports. The firm had revenue of $122.17 million during the quarter, compared to analysts’ expectations of $122.53 million. Comtech Telecommunications had a negative net margin of 3.77% and a positive return on equity of 1.72%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 EPS. Comtech Telecommunications updated its Q4 2022 guidance to EPS and its FY 2022 guidance to EPS.

Shares of NASDAQ:CMTL opened at $12.32 on Friday. The business’s 50-day moving average is $13.41 and its 200 day moving average is $18.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 0.87. Comtech Telecommunications has a 1 year low of $11.19 and a 1 year high of $27.70. The firm has a market capitalization of $326.73 million, a P/E ratio of -12.20 and a beta of 1.55.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of Comtech Telecommunications by 12.9% during the third quarter. Royal Bank of Canada now owns 8,971 shares of the communications equipment provider’s stock valued at $231,000 after acquiring an additional 1,024 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Comtech Telecommunications during the 4th quarter worth approximately $315,000. MetLife Investment Management LLC increased its stake in Comtech Telecommunications by 42.9% during the 1st quarter. MetLife Investment Management LLC now owns 13,790 shares of the communications equipment provider’s stock valued at $216,000 after purchasing an additional 4,139 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Comtech Telecommunications by 5.5% in the fourth quarter. Deutsche Bank AG now owns 15,480 shares of the communications equipment provider’s stock worth $367,000 after buying an additional 808 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in shares of Comtech Telecommunications in the fourth quarter worth $373,000. 73.67% of the stock is owned by institutional investors and hedge funds.

CMTL has been the topic of several recent research reports. StockNews.com initiated coverage on Comtech Telecommunications in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup reduced their target price on shares of Comtech Telecommunications from $20.00 to $14.00 in a report on Friday. Finally, TheStreet downgraded shares of Comtech Telecommunications from a “c-” rating to a “d+” rating in a research report on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.00.

Comtech Telecommunications Company Profile (Get Rating)

Comtech Telecommunications Corp., together with its subsidiaries, designs, develops, produces, and markets products, systems, and services for communications solutions in the United States and internationally. It operates in two segments, Commercial Solutions and Government Solutions. The Commercial Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters, and network software to modulate, demodulate, and amplify signals, as well as to carry voice, video, and/or data over networks; and public safety and location technologies, such as 911 call handling and mapping solutions that allow cellular carriers and voice over the Internet carriers to deliver emergency calls to public safety emergency call centers.

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Earnings History for Comtech Telecommunications (NASDAQ:CMTL)

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