Comtech Telecommunications Corp. CMTL recently announced that Mission-Critical Technologies group, part of its Government Solutions segment, secured funding of $1.9 million to provide support to the City of Baltimore. The funding is likely to provide the requisite wherewithal for the information technology requirements of multiple agencies within the city.
The Mission-Critical Technologies group ensures that mission-critical applications are addressed even during harsh environmental conditions. With the funding, Comtech will aim to focus on IT activities such as database development, network security and local and wide-area network support for the overall maintenance and IT infrastructure upkeep of the city.
Comtech has created a niche market for highly secure wireless solutions to defend global security and improve public safety. The company continues to provide market-leading products for messaging, location and deployable wireless communications. It offers services to integrate networks, servers, gateways and intelligent peripherals, and provides transmission responses to users.
Customers depend on Comtech’s commercial wireless applications, which are based on innovative mobile cloud-computing services like text messaging, public safety solutions, hyper-local search, workforce tracking, social applications, and telematics and navigation. Federal government agencies also depend on its cybersecurity expertise, professional consulting services and highly secure deployable satellite solutions for mission-critical communications.
Earnings estimates of the company have been revised down by 89.8% in the past year to 13 cents per share, representing bearish investor sentiments about the stock as the coronavirus pandemic continues to wreak worldwide mayhem. It remains to be seen if such a steady contract flow can help the company turn the tables in the near future.
Shares of this Zacks Rank #3 (Hold) company have declined 36.9% over the past year against a rise of 22.7% for the industry.
Some better-ranked stocks in the industry worth considering are Clearfield, Inc. CLFD, sporting a Zacks Rank #1 (Strong Buy), and Nokia Corporation NOK and Qualcomm Incorporated QCOM, both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Clearfield delivered an earnings surprise of 45.6%, on average, in the trailing four quarters.
Nokia has a long-term earnings growth expectation of 15.6%. It delivered an earnings surprise of 37.5%, on average, in the trailing four quarters.
Qualcomm has a long-term earnings growth expectation of 19.8%. It delivered an earnings surprise of 14.3%, on average, in the trailing four quarters.
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