Comtech Telecom Given New $31.00 Price Target at JP Morgan Cazenove (CMTL)

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Equities research analysts at JP Morgan Cazenove upped their price objective on shares of Comtech Telecom (NASDAQ: CMTL) from $29.00 to $31.00 in a research note issued to investors on Monday, Stock Ratings Network reports. JP Morgan Cazenove’s target price points to a potential upside of 15.71% from the stock’s previous close.

Shares of Comtech Telecom (NASDAQ: CMTL) opened at 26.79 on Monday. Comtech Telecom has a one year low of $22.33 and a one year high of $30.99. The stock’s 50-day moving average is currently $25.65. The company has a market cap of $439.5 million and a P/E ratio of 24.92.

Comtech Telecom (NASDAQ: CMTL) last announced its earnings results on Thursday, June 6th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.12. The company had revenue of $69.90 million for the quarter, compared to the consensus estimate of $70.10 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 30.0% on a year-over-year basis. Comtech Telecom has set its FY13 guidance at $0.86-0.92 EPS. On average, analysts predict that Comtech Telecom will post $0.84 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on CMTL. Analysts at Thomson Reuters/Verus upgraded shares of Comtech Telecom from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, May 28th. Separately, analysts at Zacks upgraded shares of Comtech Telecom from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, May 13th. They now have a $26.60 price target on the stock. Finally, analysts at Zacks downgraded shares of Comtech Telecom from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, March 21st. They now have a $23.70 price target on the stock.

Two analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Comtech Telecom has a consensus rating of “Hold” and a consensus price target of $28.87.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 20th. Stockholders of record on Friday, July 19th will be given a dividend of $0.28 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, July 17th.

Comtech Telecommunications Corp. (NASDAQ: CMTL) designs, develops and markets products, systems and services for communications solutions.

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