Comtech Telecomm (NASDAQ:CMTL) Stock Tumbles after Shattering 2013 Forecasts – CMTL, NOK, ALU, QCOM

The Melville, New York-based Comtech Telecomm Corp (NASDAQ:CMTL) stock plunged to record low in 2 years after shattering its profit estimates in response to the hazard of federal budget lowers and tax boosts.

Shares of electronics Communications Company plunged around 13.5% for the major one day decline since Dec 9, 2010. Shares of the company traded at $23.74, low 8%, at 11:04 AM in New York. Shares fo the company plunged 17% current year.

Comtech reported on Thursday that it forecast profit for fiscal 2013 at $1.26 to $1.34 per share, low from $1.40 to $1.48. Comtech Telecomm also estimates profit in its Q2 finishing Jan 31 at 10 to 12 cents per share.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Nokia Corporation (ADR) (NYSE:NOK) rise +2.97% to settle at $3.85, Alcatel Lucent SA (ADR) (NYSE:ALU) moved down -1.75% to end at $1.12 while QUALCOMM, Inc (NASDAQ:QCOM) decreased -0.53% to finish at $63.86 on Friday.

Comtech Telecomm. Corp (NASDAQ:CMTL) last session’s volume of 718,383.00 shares was higher than its average volume of 94,016.00 shares. The stock after opening at $22.33 hit high price of $24.19 and then closed at $24.13 by scoring -6.47%.

CMTL generated revenue of $425.07 million in the previous twelve months and earned $32.42 million. The Company showed a positive 7.63% in the net profit margin as well as in its operating margin which remained at 12.06%. Company’s annual sales growth for the past five years was -10.15%.

The CMTL’s past twelve months’ price to sales ratio was 0.99 and price to cash ratio remained 1.14. As far as the returns are concerned, CMTL’s return on equity was recorded as 6.12% and return on investment increased 4.38% while its return on asset stayed at 3.91%.

The stock showed weekly downbeat performance of -5.59% which was maintained for the month at -4.81%. Likewise the positive performance for the quarter was recorded as -14.04% and for the year was -19.30% while the YTD performance remained at -12.41%.

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