Telecommunications

Comtech Telecommunications Corp. (NASDAQ:CMTL) expects quarterly dividend of $0.10

Comtech Telecommunications Corp. (NASDAQ:CMTL – Get Rating) declared a quarterly dividend on Thursday, September 29, Zacks reports. Shareholders of record on Wednesday, October 19 will receive a dividend of 0.10 per share from the communications equipment provider on Friday, November 18. This represents an annualized dividend of $0.40 and a yield of 4.08%. The ex-dividend date is Tuesday, October 18.

Comtech Telecommunications has a payout ratio of -129.0%, indicating that the company cannot currently cover its dividend with earnings alone and relies on its balance sheet to cover its dividend payments. Analysts expect Comtech Telecommunications to earn $0.20 per share next year, meaning the company may not be able to cover its $0.40 annual dividend with a future payout ratio. forecast of 200.0%.

Comtech Telecom Price Performance

NASDAQ: CMTL opened at $9.80 on Friday. The company has a market capitalization of $269.60 million, a price-earnings ratio of -5.98 and a beta of 1.69. Comtech Telecommunications has a 1-year low of $8.42 and a 1-year high of $27.70. The company has a 50-day simple moving average of $11.21 and a 200-day simple moving average of $11.68. The company has a debt ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.86.

Wall Street analysts predict growth

Separately, StockNews.com kicked off coverage on Comtech Telecommunications in a research note on Wednesday. They issued a “sell” rating for the company. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and one has assigned the company’s stock a buy rating. Based on data from MarketBeat.com, Comtech Telecommunications currently has an average rating of “Hold” and a consensus target price of $12.00.

Insider activity

In other Comtech Telecommunications news, Director Lisa Lesavoy bought 10,000 shares of the company in a deal that took place on Tuesday, July 19. The shares were purchased at an average cost of $10.22 per share, with a total value of $102,200.00. Following the purchase, the director now owns 18,476 shares of the company, valued at $188,824.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. In other Comtech Telecommunications news, Director Lisa Lesavoy bought 10,000 shares of the company in a deal that took place on Tuesday, July 19. The shares were purchased at an average cost of $10.22 per share, with a total value of $102,200.00. Following the purchase, the director now owns 18,476 shares of the company, valued at $188,824.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, COO Maria Hedden purchased 4,640 shares of the company in a transaction that took place on Thursday, July 21. The shares were acquired at an average cost of $10.60 per share, with a total value of $49,184.00. Following the completion of the purchase, the COO now directly owns 4,640 shares of the company, valued at approximately $49,184. Disclosure of this purchase can be found here. Insiders bought 28,770 shares of the company valued at $289,249 in the past ninety days. Insiders hold 5.80% of the shares of the company.

Institutional entries and exits

Institutional investors have recently been buying and selling shares of the company. Rhumbline Advisers increased its stake in Comtech Telecommunications by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 80,214 shares of the communications equipment provider worth $728,000 after purchasing an additional 3,195 shares during the period. HighTower Advisors LLC bought a new position in Comtech Telecommunications during Q1 worth $679,000. Sei Investments Co. increased its stake in Comtech Telecommunications by 38.3% during the 1st quarter. Sei Investments Co. now owns 26,340 shares of the communications equipment provider worth $414,000 after purchasing an additional 7,288 shares during the period. First Trust Advisors LP increased its stake in Comtech Telecommunications by 80.1% during the 1st quarter. First Trust Advisors LP now owns 24,815 shares of the communications equipment provider worth $389,000 after buying an additional 11,034 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Comtech Telecommunications by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,714 shares of the communications equipment supplier worth $356,000 after buying 2,801 additional shares during the period. 74.80% of the shares are currently held by hedge funds and other institutional investors.

Company Profile Comtech Telecommunications

(Get a 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 Business Solutions segment offers satellite ground station technologies, including single channel per carrier and time division multiple access modems, amplifiers, frequency converters and network software for modulating, demodulating and amplify signals, as well as to transport voice, video and/or data over networks; and public safety and location-based technologies, such as 911 call handling and mapping solutions that allow mobile carriers and voice-over-internet carriers to route emergency calls to call centers in public safety emergency.

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Dividend history for Comtech Telecommunications (NASDAQ:CMTL)

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