Comtech Telecommunications (NASDAQ:CMTL) Cut to “Hold” at Jefferies Financial Group

Comtech Telecommunications (NASDAQ:CMTL – Get Rating) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They currently have a $10.00 price objective on the communications equipment provider’s stock, down from their prior price objective of $32.00. Jefferies Financial Group’s price target indicates a potential upside of 9.65% from the stock’s previous close.

CMTL has been the subject of a number of other reports. Noble Financial upgraded shares of Comtech Telecommunications from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday. Citigroup decreased their target price on shares of Comtech Telecommunications from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, June 10th. TheStreet cut Comtech Telecommunications from a “c-” rating to a “d+” rating in a report on Wednesday, May 4th. Finally, StockNews.com cut Comtech Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.00.

CMTL opened at $9.12 on Wednesday. The firm’s fifty day simple moving average is $13.03 and its two-hundred day simple moving average is $18.08. Comtech Telecommunications has a 52-week low of $8.93 and a 52-week high of $27.70. The company has a market cap of $241.93 million, a price-to-earnings ratio of -8.29 and a beta of 1.55. The company has a quick ratio of 0.88, a current ratio of 1.34 and a debt-to-equity ratio of 0.27.

Comtech Telecommunications (NASDAQ:CMTL – Get 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). Comtech Telecommunications had a negative net margin of 4.06% and a positive return on equity of 1.03%. The firm had revenue of $122.17 million during the quarter, compared to the consensus estimate of $122.53 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, research analysts forecast that Comtech Telecommunications will post 0.31 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Ensign Peak Advisors Inc increased its holdings in shares of Comtech Telecommunications by 383.3% during the 3rd quarter. Ensign Peak Advisors Inc now owns 5,800 shares of the communications equipment provider’s stock worth $149,000 after buying an additional 4,600 shares during the last quarter. State of Tennessee Treasury Department grew its position 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 worth $155,000 after acquiring an additional 1,501 shares during the period. Mint Tower Capital Management B.V. acquired a new stake in Comtech Telecommunications during the fourth quarter worth $172,000. Lapides Asset Management LLC purchased a new stake in Comtech Telecommunications in the first quarter valued at $179,000. Finally, HighTower Advisors LLC acquired a new position in shares of Comtech Telecommunications in the 3rd quarter valued at $214,000. Institutional investors 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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