Casa Systems (CASA) Scheduled to Post Quarterly Earnings on Thursday

Casa Systems (NASDAQ:CASAGet Rating) is set to issue its quarterly earnings data after the market closes on Thursday, August 4th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Casa Systems (NASDAQ:CASAGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). Casa Systems had a negative return on equity of 49.71% and a negative net margin of 9.72%. The firm had revenue of $64.40 million during the quarter, compared to analysts’ expectations of $87.40 million. During the same period in the previous year, the firm earned $0.06 EPS. On average, analysts expect Casa Systems to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Casa Systems Stock Up 5.8 %

Shares of Casa Systems stock opened at $4.40 on Thursday. The firm’s 50 day moving average price is $4.11 and its 200-day moving average price is $4.36. The company has a quick ratio of 3.05, a current ratio of 4.20 and a debt-to-equity ratio of 5.52. Casa Systems has a 52-week low of $3.39 and a 52-week high of $8.32. The company has a market cap of $414.39 million, a P/E ratio of -10.48 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CASA shares. Barclays lifted their target price on shares of Casa Systems from $7.00 to $9.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Northland Securities lowered their target price on shares of Casa Systems from $10.00 to $6.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Casa Systems presently has a consensus rating of “Moderate Buy” and an average price target of $7.38.

Insider Buying and Selling at Casa Systems

In other Casa Systems news, Director William C. Styslinger III acquired 11,800 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was acquired at an average cost of $3.99 per share, for a total transaction of $47,082.00. Following the purchase, the director now owns 525,213 shares in the company, valued at approximately $2,095,599.87. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director William C. Styslinger III bought 83,923 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average cost of $4.01 per share, with a total value of $336,531.23. Following the acquisition, the director now directly owns 653,136 shares in the company, valued at $2,619,075.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Styslinger III bought 11,800 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $3.99 per share, with a total value of $47,082.00. Following the completion of the acquisition, the director now owns 525,213 shares in the company, valued at $2,095,599.87. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 139,723 shares of company stock worth $576,333. Company insiders own 64.80% of the company’s stock.

Hedge Funds Weigh In On Casa Systems

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Casa Systems by 2.7% during the 1st quarter. BlackRock Inc. now owns 2,339,251 shares of the company’s stock valued at $10,575,000 after purchasing an additional 60,508 shares in the last quarter. Vanguard Group Inc. increased its holdings in Casa Systems by 15.6% in the 1st quarter. Vanguard Group Inc. now owns 2,187,960 shares of the company’s stock worth $9,889,000 after acquiring an additional 295,639 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Casa Systems by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 641,790 shares of the company’s stock worth $2,901,000 after acquiring an additional 89,180 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Casa Systems by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 426,366 shares of the company’s stock worth $1,928,000 after acquiring an additional 4,369 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Casa Systems by 3.1% in the 1st quarter. Sei Investments Co. now owns 416,239 shares of the company’s stock worth $1,882,000 after acquiring an additional 12,500 shares in the last quarter. 68.75% of the stock is owned by hedge funds and other institutional investors.

About Casa Systems

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Casa Systems, Inc, a communications technology company, provides solutions for next-generation physical, virtualized, and cloud native architectures for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa.

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Earnings History for Casa Systems (NASDAQ:CASA)

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