CalAmp (NASDAQ:CAMP) Announces Quarterly Earnings Results, Beats Expectations By $0.13 EPS

CalAmp (NASDAQ:CAMP – Get Rating) announced its quarterly earnings data on Thursday. The Wireless communications provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.13, MarketWatch Earnings reports. The company had revenue of $68.38 million for the quarter, compared to the consensus estimate of $68.44 million. CalAmp had a negative return on equity of 1.58% and a negative net margin of 8.90%. CalAmp’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS.

Shares of CAMP traded up $0.47 during midday trading on Friday, reaching $5.47. 413,763 shares of the stock were exchanged, compared to its average volume of 226,744. CalAmp has a 52 week low of $4.93 and a 52 week high of $14.51. The company has a current ratio of 2.04, a quick ratio of 1.83 and a debt-to-equity ratio of 2.34. The company’s 50 day moving average is $6.68 and its two-hundred day moving average is $7.73. The company has a market capitalization of $196.37 million, a P/E ratio of -6.84 and a beta of 2.29.

Several equities analysts have commented on CAMP shares. Jefferies Financial Group cut their price objective on CalAmp from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, March 25th. StockNews.com started coverage on CalAmp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research raised CalAmp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $13.88.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in shares of CalAmp by 65.6% during the 4th quarter. Barclays PLC now owns 46,410 shares of the Wireless communications provider’s stock worth $327,000 after buying an additional 18,389 shares in the last quarter. BlackRock Inc. grew its position in shares of CalAmp by 4.5% during the 4th quarter. BlackRock Inc. now owns 5,510,361 shares of the Wireless communications provider’s stock worth $38,903,000 after buying an additional 238,938 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of CalAmp by 170.7% during the 4th quarter. Wells Fargo & Company MN now owns 25,641 shares of the Wireless communications provider’s stock worth $181,000 after buying an additional 16,170 shares in the last quarter. Virtu Financial LLC bought a new position in shares of CalAmp during the 4th quarter worth $117,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of CalAmp by 9.0% during the 4th quarter. Parametric Portfolio Associates LLC now owns 146,399 shares of the Wireless communications provider’s stock worth $1,034,000 after buying an additional 12,139 shares in the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.

About CalAmp (Get Rating)

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Europe, the Middle East, Africa, South America, Asia and Pacific Rim, and internationally. The company offers telematics products, including asset tracking units, mobile telematics devices, fixed and mobile wireless gateways, and routers; and advanced telematics products for the broader connected vehicle and Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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