Brokerages Anticipate CalAmp Corp. (NASDAQ:CAMP) Will Post Quarterly Sales of $69.56 Million

Wall Street analysts forecast that CalAmp Corp. (NASDAQ:CAMPGet Rating) will report sales of $69.56 million for the current quarter, Zacks reports. Three analysts have made estimates for CalAmp’s earnings, with estimates ranging from $68.57 million to $70.30 million. CalAmp posted sales of $79.67 million during the same quarter last year, which would indicate a negative year over year growth rate of 12.7%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that CalAmp will report full-year sales of $299.51 million for the current year, with estimates ranging from $295.80 million to $306.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $299.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover CalAmp.

CalAmp (NASDAQ:CAMPGet Rating) last released its earnings results on Thursday, April 28th. The Wireless communications provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.13. The company had revenue of $68.38 million during the quarter, compared to the consensus estimate of $68.44 million. CalAmp had a negative return on equity of 8.27% and a negative net margin of 9.46%. CalAmp’s revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS.

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

Shares of NASDAQ CAMP opened at $5.01 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 2.52. CalAmp has a twelve month low of $4.70 and a twelve month high of $14.51. The stock has a 50 day moving average of $6.41 and a two-hundred day moving average of $7.44. The stock has a market cap of $180.65 million, a P/E ratio of -6.26 and a beta of 2.30.

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of CalAmp by 245.3% in the 2nd quarter. Royal Bank of Canada now owns 3,170 shares of the Wireless communications provider’s stock worth $40,000 after purchasing an additional 2,252 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of CalAmp in the 4th quarter worth about $26,000. Captrust Financial Advisors raised its holdings in shares of CalAmp by 26.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,949 shares of the Wireless communications provider’s stock worth $49,000 after purchasing an additional 1,027 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in shares of CalAmp by 78.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,975 shares of the Wireless communications provider’s stock worth $89,000 after purchasing an additional 3,940 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of CalAmp by 151.2% in the 4th quarter. MetLife Investment Management LLC now owns 12,551 shares of the Wireless communications provider’s stock worth $89,000 after purchasing an additional 7,554 shares during the period. Institutional investors own 77.03% of the company’s stock.

About CalAmp (Get Rating)

CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products.

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