Equities research analysts expect that CalAmp Corp. (NASDAQ:CAMP) will post sales of $90.90 million for the current quarter, according to Zacks. Five analysts have issued estimates for CalAmp Corp.’s earnings, with the highest sales estimate coming in at $91.54 million and the lowest estimate coming in at $89.64 million. CalAmp Corp. reported sales of $83.35 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, December 20th.
According to Zacks, analysts expect that CalAmp Corp. will report full-year sales of $90.90 million for the current financial year, with estimates ranging from $361.45 million to $362.81 million. For the next fiscal year, analysts expect that the firm will post sales of $388.01 million per share, with estimates ranging from $381.52 million to $394.57 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for CalAmp Corp..
CalAmp Corp. (NASDAQ:CAMP) last released its earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $89.80 million for the quarter, compared to analyst estimates of $88.72 million. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS.
Several research firms have issued reports on CAMP. Zacks Investment Research upgraded CalAmp Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, October 3rd. J P Morgan Chase & Co lowered CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, October 4th. B. Riley restated a “buy” rating and issued a $28.00 price objective on shares of CalAmp Corp. in a research note on Wednesday, October 4th. TheStreet upgraded CalAmp Corp. from a “c” rating to a “b” rating in a research note on Friday, September 29th. Finally, Northland Securities restated a “buy” rating and issued a $25.00 price objective on shares of CalAmp Corp. in a research note on Sunday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. CalAmp Corp. presently has an average rating of “Hold” and a consensus price target of $23.75.
CalAmp Corp. (NASDAQ:CAMP) traded up 0.21% during mid-day trading on Friday, reaching $23.85. The company’s stock had a trading volume of 244,943 shares. The company has a 50 day moving average of $20.28 and a 200-day moving average of $19.00. The stock has a market cap of $849.08 million, a PE ratio of 220.83 and a beta of 1.60. CalAmp Corp. has a 52-week low of $12.13 and a 52-week high of $24.68.
In related news, CEO Michael J. Burdiek sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $23.99, for a total transaction of $215,910.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Garo Sarkis Sarkissian sold 9,833 shares of the stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $23.89, for a total value of $234,910.37. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in CalAmp Corp. during the second quarter worth approximately $1,276,000. Nomura Holdings Inc. grew its position in CalAmp Corp. by 11.8% during the second quarter. Nomura Holdings Inc. now owns 326,846 shares of the Wireless communications provider’s stock worth $6,611,000 after buying an additional 34,422 shares in the last quarter. State Street Corp grew its position in CalAmp Corp. by 4.4% during the second quarter. State Street Corp now owns 891,016 shares of the Wireless communications provider’s stock worth $18,114,000 after buying an additional 37,172 shares in the last quarter. Precept Management LLC acquired a new stake in CalAmp Corp. during the second quarter worth approximately $1,260,000. Finally, Voya Investment Management LLC grew its position in CalAmp Corp. by 2.8% during the second quarter. Voya Investment Management LLC now owns 878,417 shares of the Wireless communications provider’s stock worth $17,858,000 after buying an additional 23,819 shares in the last quarter. 72.45% of the stock is currently owned by institutional investors and hedge funds.
About CalAmp Corp.
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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