In the latest trading session, Comtech Telecommunications (CMTL) closed at $27.68, marking a +0.73% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq added 0.38%.Prior to today's trading, shares of the communications company had lost 0.87% over the past month. This has was narrower than the Computer and Technology sector's loss of 3.22% and the S&P 500's loss of 3.57% in that time.CMTL will be looking to display strength as it nears its next earnings release. In that report, analysts expect CMTL to post earnings of $0.10 per share. This would mark a year-over-year decline of 75%. Our most recent consensus estimate is calling for quarterly revenue of $164.70 million, down 1.64% from the year-ago period.Investors might also notice recent changes to analyst estimates for CMTL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.29% higher within the past month. CMTL is currently sporting a Zacks Rank of #2 (Buy).Digging into valuation, CMTL currently has a Forward P/E ratio of 21.47. Its industry sports an average Forward P/E of 21.08, so we one might conclude that CMTL is trading at a premium comparatively.Meanwhile, CMTL's PEG ratio is currently 4.29. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless Equipment was holding an average PEG ratio of 2.89 at yesterday's closing price.The Wireless Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.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 Comtech Telecommunications Corp. (CMTL): Free Stock Analysis Report To read this article on Zacks.com click here.