Comtech Telecommunications (NASDAQ:CMTL) Price Target Cut to $14.00 by Analysts at Citigroup

Comtech Telecommunications (NASDAQ:CMTLGet Rating) had its price objective reduced by research analysts at Citigroup from $20.00 to $14.00 in a research note issued on Friday, The Fly reports. Citigroup’s price target indicates a potential upside of 13.64% from the stock’s previous close.

Several other equities research analysts also recently issued reports on CMTL. StockNews.com assumed coverage on shares of Comtech Telecommunications in a research note on Thursday, March 31st. They set a “hold” rating for the company. TheStreet downgraded shares of Comtech Telecommunications from a “c-” rating to a “d+” rating in a research note on Wednesday, May 4th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

CMTL opened at $12.32 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Comtech Telecommunications has a 52-week low of $11.19 and a 52-week high of $27.70. The company has a 50 day moving average of $13.41 and a two-hundred day moving average of $18.50. The company has a market cap of $326.73 million, a P/E ratio of -12.20 and a beta of 1.55.

Comtech Telecommunications (NASDAQ:CMTLGet Rating) last released its quarterly earnings data on Thursday, March 10th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.11. Comtech Telecommunications had a negative net margin of 3.77% and a positive return on equity of 1.72%. The company had revenue of $120.40 million during the quarter, compared to the consensus estimate of $125.23 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Comtech Telecommunications’s revenue for the quarter was down 25.4% on a year-over-year basis. Research analysts anticipate that Comtech Telecommunications will post 0.31 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc raised its holdings in Comtech Telecommunications by 383.3% in the third quarter. Ensign Peak Advisors Inc now owns 5,800 shares of the communications equipment provider’s stock valued at $149,000 after acquiring an additional 4,600 shares in the last quarter. Mint Tower Capital Management B.V. acquired a new stake in Comtech Telecommunications in the fourth quarter valued at $172,000. HighTower Advisors LLC acquired a new stake in Comtech Telecommunications in the third quarter valued at $214,000. Royal Bank of Canada raised its holdings in Comtech Telecommunications by 12.9% in 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. Finally, State of Tennessee Treasury Department raised its holdings in Comtech Telecommunications by 17.9% in the first quarter. State of Tennessee Treasury Department now owns 9,902 shares of the communications equipment provider’s stock valued at $155,000 after acquiring an additional 1,501 shares in the last quarter. Institutional investors and hedge funds own 73.67% of the company’s stock.

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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