Comtech Telecommunications (NASDAQ:CMTL - Get Free Report) posted its earnings results on Monday. The communications equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.08, Zacks reports. The business had revenue of $126.79 million during the quarter, compared to the consensus estimate of $124.12 million. Comtech Telecommunications had a negative return on equity of 8.76% and a negative net margin of 48.97%.
Comtech Telecommunications Stock Performance
Comtech Telecommunications stock traded down $0.09 during trading hours on Thursday, reaching $2.09. 234,232 shares of the stock were exchanged, compared to its average volume of 876,246. The stock has a market cap of $61.34 million, a P/E ratio of -0.21 and a beta of 1.19. Comtech Telecommunications has a 52-week low of $1.19 and a 52-week high of $5.16. The firm's 50 day moving average is $1.69 and its 200 day moving average is $2.33.
Analyst Ratings Changes
Separately, B. Riley dropped their price objective on shares of Comtech Telecommunications from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday.
Check Out Our Latest Research Report on Comtech Telecommunications
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Comtech Telecommunications stock. Goldman Sachs Group Inc. boosted its stake in shares of Comtech Telecommunications Corp. (NASDAQ:CMTL - Free Report) by 86.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,593 shares of the communications equipment provider's stock after buying an additional 20,726 shares during the quarter. Goldman Sachs Group Inc. owned 0.15% of Comtech Telecommunications worth $71,000 as of its most recent filing with the Securities and Exchange Commission.
About Comtech Telecommunications
(
Get Free Report)
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.
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