CalAmp (NASDAQ:CAMP) Announces Earnings Results

CalAmp (NASDAQ:CAMP) announced its quarterly earnings results on Thursday. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07, MarketWatch Earnings reports. CalAmp had a positive return on equity of 2.90% and a negative net margin of 21.66%. The company had revenue of $80.22 million during the quarter, compared to the consensus estimate of $75.29 million. During the same period in the previous year, the business earned $0.12 EPS. CalAmp’s revenue for the quarter was down 9.9% on a year-over-year basis.

Shares of CAMP stock opened at $7.69 on Friday. The stock has a market capitalization of $259.09 million, a PE ratio of -3.27 and a beta of 2.42. CalAmp has a 52-week low of $3.70 and a 52-week high of $12.32. The stock’s 50-day moving average price is $7.40 and its 200 day moving average price is $7.99. The company has a quick ratio of 1.66, a current ratio of 1.96 and a debt-to-equity ratio of 1.46.

In other CalAmp news, Director Amal M. Johnson bought 30,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $6.29 per share, for a total transaction of $188,700.00. Also, CEO Jeffery R. Gardner bought 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were acquired at an average price of $6.86 per share, for a total transaction of $34,300.00. Insiders own 3.40% of the company’s stock.

CAMP has been the topic of a number of research analyst reports. ValuEngine cut CalAmp from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group upgraded CalAmp from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Friday, April 17th. JPMorgan Chase & Co. cut their target price on CalAmp from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. BidaskClub upgraded CalAmp from a “hold” rating to a “buy” rating in a research report on Thursday, June 18th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $11.00 target price on shares of CalAmp in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. CalAmp currently has an average rating of “Hold” and a consensus price target of $11.18.

CalAmp Company Profile

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 for CalAmp (NASDAQ:CAMP)

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