Equities research analysts expect CalAmp Corp. (NASDAQ:CAMP) to announce $90.90 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for CalAmp Corp.’s earnings. The lowest sales estimate is $89.64 million and the highest is $91.54 million. CalAmp Corp. posted sales of $83.35 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, December 20th.
On average, analysts expect that CalAmp Corp. will report full year sales of $90.90 million for the current fiscal year, with estimates ranging from $360.58 million to $362.81 million. For the next financial year, analysts forecast that the business will post sales of $386.81 million per share, with estimates ranging from $380.00 million to $394.57 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CalAmp Corp..
CalAmp Corp. (NASDAQ:CAMP) last posted its earnings results on Thursday, September 28th. The Wireless communications provider reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. CalAmp Corp. had a return on equity of 18.18% and a net margin of 1.31%. The company had revenue of $89.80 million for the quarter, compared to analyst estimates of $88.72 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue was down .8% compared to the same quarter last year.
Several equities research analysts have commented on the stock. TheStreet raised shares of CalAmp Corp. from a “c” rating to a “b” rating in a research report on Friday, September 29th. Zacks Investment Research cut shares of CalAmp Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. B. Riley reissued a “buy” rating and set a $28.00 price target on shares of CalAmp Corp. in a research report on Wednesday. J P Morgan Chase & Co cut shares of CalAmp Corp. from a “neutral” rating to an “underweight” rating and set a $22.00 price target on the stock. in a research report on Wednesday. Finally, Northland Securities reissued a “buy” rating and set a $25.00 price target on shares of CalAmp Corp. in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. CalAmp Corp. currently has a consensus rating of “Hold” and an average price target of $23.75.
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In other news, CEO Michael J. Burdiek sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $23.99, for a total value of $215,910.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Garo Sarkis Sarkissian sold 9,833 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $23.89, for a total transaction of $234,910.37. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Eagle Boston Investment Management Inc. raised its holdings in shares of CalAmp Corp. by 8.6% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 489,237 shares of the Wireless communications provider’s stock valued at $9,946,000 after purchasing an additional 38,921 shares during the period. Lazard Asset Management LLC raised its holdings in CalAmp Corp. by 66.9% in the 1st quarter. Lazard Asset Management LLC now owns 16,270 shares of the Wireless communications provider’s stock valued at $273,000 after acquiring an additional 6,519 shares during the period. Principal Financial Group Inc. raised its holdings in CalAmp Corp. by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 269,158 shares of the Wireless communications provider’s stock valued at $4,519,000 after acquiring an additional 2,714 shares during the period. Karp Capital Management Corp bought a new position in CalAmp Corp. in the 1st quarter valued at about $176,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in CalAmp Corp. by 30.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 162,550 shares of the Wireless communications provider’s stock valued at $2,730,000 after acquiring an additional 37,484 shares during the period. 72.88% of the stock is currently owned by institutional investors.
CalAmp Corp. (CAMP) opened at 23.70 on Friday. CalAmp Corp. has a 12-month low of $12.13 and a 12-month high of $24.69. The company has a market capitalization of $843.74 million, a price-to-earnings ratio of 219.44 and a beta of 1.60. The firm’s 50-day moving average price is $19.94 and its 200 day moving average price is $18.87.
CalAmp Corp. Company Profile
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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