Comtech Telecommunications Corp. (NASDAQ:CMTL) Announces Quarterly Dividend of $0.10

Comtech Telecommunications Corp. (NASDAQ:CMTLGet Rating) announced a quarterly dividend on Thursday, June 9th, Zacks reports. Stockholders of record on Wednesday, July 20th will be given a dividend of 0.10 per share by the communications equipment provider on Friday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, July 19th.

Comtech Telecommunications has a dividend payout ratio of 56.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Comtech Telecommunications to earn $1.64 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 24.4%.

CMTL opened at $9.69 on Friday. The stock has a market cap of $256.98 million, a price-to-earnings ratio of -8.81 and a beta of 1.55. The business has a 50 day moving average of $13.28 and a 200-day moving average of $18.38. 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 12-month low of $8.96 and a 12-month high of $27.70.

Comtech Telecommunications (NASDAQ:CMTLGet Rating) last released its quarterly earnings results on Thursday, June 9th. The communications equipment provider reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $122.17 million during the quarter, compared to analysts’ expectations of $122.53 million. Comtech Telecommunications had a positive return on equity of 1.02% and a negative net margin of 4.06%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.26 EPS. As a group, analysts expect that Comtech Telecommunications will post 0.31 earnings per share for the current year.

Several equities analysts have weighed in on CMTL shares. Citigroup dropped their price objective on Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com started coverage on Comtech Telecommunications in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, TheStreet lowered Comtech Telecommunications from a “c-” rating to a “d+” rating in a research note on Wednesday, May 4th.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Comtech Telecommunications by 0.3% during the 1st quarter. BlackRock Inc. now owns 4,245,518 shares of the communications equipment provider’s stock worth $66,612,000 after acquiring an additional 12,968 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Comtech Telecommunications by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,824,177 shares of the communications equipment provider’s stock worth $28,621,000 after buying an additional 15,014 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Comtech Telecommunications by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,739,508 shares of the communications equipment provider’s stock worth $27,293,000 after buying an additional 11,680 shares during the period. State Street Corp lifted its holdings in Comtech Telecommunications by 4.0% during the 1st quarter. State Street Corp now owns 931,223 shares of the communications equipment provider’s stock worth $14,611,000 after buying an additional 35,803 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Comtech Telecommunications by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 443,630 shares of the communications equipment provider’s stock worth $10,509,000 after buying an additional 4,798 shares during the period. 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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Dividend History for Comtech Telecommunications (NASDAQ:CMTL)

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