Yahoo Finance Comtech (CMTL) Inks Deal With Commonwealth of Massachusetts
Comtech Telecommunications CMTL recently secured a major contract for the Massachusetts’ Next Generation 911 (NG911) system.
Per the terms, the contract will have an initial life of five years from Aug 1, 2024, to Jul 31, 2029, with an additional option to extend for another five-year term through Jul 31, 2034. The total contract value (including the additional extension option) is likely to surpass $250 million.
CMTL has been associated with the state of Massachusetts since 2014 for the proper functioning of the IP-based NG911 system. The Comtech NG911 system aids in catering to emergency communications needs for the state by processing urgent service requests from existing public networks through various modes of communication and devices.
The approval of the contract by the Commonwealth of Massachusetts underscores the state’s unwavering trust in CMTL for ensuring secure public communication, added CMTL.
Based in Huntington, NY, CMTL is a leading global provider of terrestrial and wireless network solutions, along with next-generation 911 emergency services. It also offers satellite and space communications technologies and cloud-native capabilities to both commercial and government clients. It has expanded its footprint across multiple market domains from broadcast, enterprise, space, telecom to maritime, public safety and military and defense.
CMTL has been at the forefront of strategic collaborations and innovations since the beginning of 2024.
Recently, it joined forces with Eutelsat OneWeb to provide Low Earth Orbit (LEO) satellite connectivity services to various regions of Antarctica. Eutelsat OneWeb is a subsidiary of Eutelsat, which specializes in delivering Internet connectivity in LEO. Eutelsat acquired OneWeb in 2023. With the acquisition, EUTLF became a fully integrated GEO-LEO satellite operator.
CMTL also collaborated with the Arizona Department of Administration for the successful transition of the state’s flagship 911 system to the updated infrastructure of Comtech’s NG911 services.
In the last reported quarter, the company incurred a loss of 15 cents per share, missing the Zacks Consensus Estimate by 153.57%. Revenues were up roughly 0.4% year over year to $134 million. The top line fell short of the consensus estimate by 12.18%.
At present, CMTL carries a Zacks Rank #3 (Hold). The stock has lost 81.1% against the sub-industry’s rise of 54% in the past year.
Image Source: Zacks Investment Research
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Picks
Arista Networks, Inc. ANET, sporting a Zacks Rank #1, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience.
Arista has a long-term earnings growth expectation of 15.7% and delivered an earnings surprise of 15.4%, on average, in the trailing four quarters.
Ubiquiti Inc. UI, carrying a Zacks Rank #2 (Buy) at present, is a key pick in the broader industry. Headquartered in New York, it offers a comprehensive portfolio of networking products and solutions for service providers and enterprises at disruptive prices.
UI boasts a proprietary network communication platform that is well-equipped to meet end-market customer needs. In addition, it is committed to reducing operational costs by using a self-sustaining mechanism for rapid product support and dissemination of information by leveraging the strength of the Ubiquiti Community.
NVIDIA Corporation NVDA, sporting a Zacks Rank #1, is another key pick in the broader industry. It is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA’s focus has evolved from PC graphics to AI-based solutions that now support high-performance computing, gaming and virtual reality platforms.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NVIDIA Corporation (NVDA) : Free Stock Analysis Report
Comtech Telecommunications Corp. (CMTL) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
Ubiquiti Inc. (UI) : Free Stock Analysis Report
