Brokerages Expect CalAmp Corp. (NASDAQ:CAMP) Will Post Quarterly Sales of $91.40 Million

Equities research analysts predict that CalAmp Corp. (NASDAQ:CAMP) will post sales of $91.40 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for CalAmp’s earnings, with estimates ranging from $90.31 million to $91.96 million. CalAmp posted sales of $96.04 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, September 26th.

On average, analysts expect that CalAmp will report full year sales of $372.79 million for the current year, with estimates ranging from $364.50 million to $379.81 million. For the next year, analysts anticipate that the business will post sales of $395.43 million, with estimates ranging from $386.15 million to $405.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CalAmp.

CalAmp (NASDAQ:CAMP) last posted its quarterly earnings results on Thursday, June 27th. The Wireless communications provider reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.18). The firm had revenue of $89.10 million for the quarter, compared to analysts’ expectations of $86.91 million. CalAmp had a net margin of 0.33% and a return on equity of 11.85%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS.



CAMP has been the subject of several analyst reports. Goldman Sachs Group cut CalAmp from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $13.00 to $11.00 in a report on Wednesday, May 29th. Zacks Investment Research raised CalAmp from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. BidaskClub raised CalAmp from a “hold” rating to a “buy” rating in a report on Monday, September 16th. ValuEngine cut CalAmp from a “buy” rating to a “hold” rating in a report on Thursday. Finally, TheStreet cut CalAmp from a “c” rating to a “d+” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. CalAmp currently has an average rating of “Hold” and a consensus target price of $19.38.

Shares of CAMP stock traded down $0.10 on Thursday, hitting $11.05. The company had a trading volume of 264,147 shares, compared to its average volume of 225,922. The firm has a market cap of $374.97 million, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 3.44 and a beta of 1.97. The company has a 50-day moving average price of $10.25 and a 200-day moving average price of $11.68. The company has a quick ratio of 1.40, a current ratio of 1.60 and a debt-to-equity ratio of 1.01. CalAmp has a twelve month low of $9.35 and a twelve month high of $24.37.

In other CalAmp news, Director Larry J. Wolfe purchased 50,000 shares of CalAmp stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average price of $11.33 per share, with a total value of $566,500.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC acquired a new position in CalAmp in the 2nd quarter worth about $9,248,000. Nomura Holdings Inc. raised its holdings in CalAmp by 6.6% in the 2nd quarter. Nomura Holdings Inc. now owns 574,136 shares of the Wireless communications provider’s stock worth $6,621,000 after purchasing an additional 35,637 shares during the period. Walleye Trading Advisors LLC acquired a new position in CalAmp in the 2nd quarter worth about $120,000. Walleye Trading LLC raised its holdings in CalAmp by 194.1% in the 2nd quarter. Walleye Trading LLC now owns 31,205 shares of the Wireless communications provider’s stock worth $364,000 after purchasing an additional 20,596 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in CalAmp by 125.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,540 shares of the Wireless communications provider’s stock worth $392,000 after purchasing an additional 18,640 shares during the period. 78.15% of the stock is owned by institutional investors.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers 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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