CalAmp Corp. (CAMP) Expected to Announce Quarterly Sales of $96.92 Million

Wall Street analysts forecast that CalAmp Corp. (NASDAQ:CAMP) will post $96.92 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for CalAmp’s earnings. The lowest sales estimate is $96.47 million and the highest is $97.60 million. CalAmp reported sales of $93.67 million during the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The company is expected to announce its next quarterly earnings report on Thursday, December 20th.

According to Zacks, analysts expect that CalAmp will report full-year sales of $387.19 million for the current fiscal year, with estimates ranging from $384.61 million to $389.58 million. For the next year, analysts forecast that the firm will post sales of $414.50 million, with estimates ranging from $409.62 million to $424.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CalAmp.

CalAmp (NASDAQ:CAMP) last released its quarterly earnings data on Thursday, September 27th. The Wireless communications provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. CalAmp had a return on equity of 16.87% and a net margin of 3.88%. The firm had revenue of $96.00 million during the quarter, compared to analyst estimates of $95.36 million. During the same period in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Several analysts have recently commented on CAMP shares. B. Riley increased their target price on CalAmp to $32.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Zacks Investment Research upgraded CalAmp from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. BidaskClub cut CalAmp from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. Canaccord Genuity increased their target price on CalAmp from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Finally, Craig Hallum restated a “hold” rating and set a $25.00 target price (up previously from $23.00) on shares of CalAmp in a report on Friday, September 28th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.43.

CalAmp stock traded up $0.01 during mid-day trading on Thursday, hitting $20.03. 143,117 shares of the company were exchanged, compared to its average volume of 345,822. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.39 and a quick ratio of 4.07. CalAmp has a 1-year low of $18.97 and a 1-year high of $25.45. The firm has a market capitalization of $707.73 million, a P/E ratio of 21.77, a P/E/G ratio of 1.88 and a beta of 1.70.

In other news, CEO Michael J. Burdiek sold 6,000 shares of the stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $21.69, for a total transaction of $130,140.00. Following the sale, the chief executive officer now owns 513,455 shares in the company, valued at $11,136,838.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Garo Sarkis Sarkissian sold 2,500 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $20.25, for a total value of $50,625.00. Following the sale, the senior vice president now owns 186,376 shares in the company, valued at approximately $3,774,114. The disclosure for this sale can be found here. Insiders have sold 21,000 shares of company stock worth $436,140 in the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. bought a new position in CalAmp in the third quarter valued at about $101,000. Piedmont Investment Advisors LLC bought a new position in CalAmp in the second quarter valued at about $195,000. Engineers Gate Manager LP bought a new position in CalAmp in the third quarter valued at about $204,000. First Republic Investment Management Inc. bought a new position in CalAmp in the second quarter valued at about $217,000. Finally, Stone Ridge Asset Management LLC bought a new position in CalAmp in the third quarter valued at about $220,000. Institutional investors and hedge funds own 78.23% of the company’s stock.

CalAmp Company Profile

CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides mobile resource management telematics devices for the 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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Earnings History and Estimates for CalAmp (NASDAQ:CAMP)

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