$69.56 Million in Sales Expected for CalAmp Corp. (NASDAQ:CAMP) This Quarter

Equities analysts expect that CalAmp Corp. (NASDAQ:CAMPGet Rating) will post $69.56 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for CalAmp’s earnings. The highest sales estimate is $70.30 million and the lowest is $68.57 million. CalAmp reported sales of $79.67 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.7%. The firm is expected 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 expect that the company will post sales of $299.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CalAmp.

CalAmp (NASDAQ:CAMPGet Rating) last released its quarterly earnings data on Thursday, April 28th. The Wireless communications provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. The firm had revenue of $68.38 million for the quarter, compared to analyst estimates of $68.44 million. CalAmp had a negative net margin of 9.46% and a negative return on equity of 8.27%. CalAmp’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.

Several research firms have recently issued reports on CAMP. StockNews.com began coverage on shares of CalAmp in a report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group reduced their target price on shares of CalAmp from $16.00 to $13.00 and set a “buy” rating for the company in a report on Friday, March 25th. Finally, Zacks Investment Research raised shares of CalAmp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $13.88.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of CalAmp by 0.4% during the 1st quarter. BlackRock Inc. now owns 5,530,984 shares of the Wireless communications provider’s stock valued at $40,431,000 after purchasing an additional 20,623 shares in the last quarter. Trigran Investments Inc. grew its stake in CalAmp by 1.6% in the 1st quarter. Trigran Investments Inc. now owns 3,565,743 shares of the Wireless communications provider’s stock valued at $26,066,000 after buying an additional 56,058 shares during the last quarter. AIGH Capital Management LLC acquired a new position in CalAmp in the 1st quarter valued at $12,958,000. Royce & Associates LP grew its stake in CalAmp by 4.6% in the 1st quarter. Royce & Associates LP now owns 1,680,351 shares of the Wireless communications provider’s stock valued at $12,283,000 after buying an additional 74,100 shares during the last quarter. Finally, State Street Corp grew its stake in CalAmp by 2.7% in the 1st quarter. State Street Corp now owns 1,670,459 shares of the Wireless communications provider’s stock valued at $12,211,000 after buying an additional 43,430 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

Shares of NASDAQ:CAMP traded down $0.03 during trading hours on Friday, hitting $7.17. The stock had a trading volume of 7,262 shares, compared to its average volume of 285,972. The stock’s fifty day simple moving average is $6.20 and its 200 day simple moving average is $7.00. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.80 and a current ratio of 2.01. The firm has a market capitalization of $258.54 million, a price-to-earnings ratio of -9.00 and a beta of 2.27. CalAmp has a 1-year low of $4.70 and a 1-year high of $14.44.

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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