CalAmp (NASDAQ:CAMP) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

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

CAMP stock opened at $7.69 on Friday. The company has a market cap of $259.09 million, a P/E ratio of -3.27 and a beta of 2.42. CalAmp has a twelve month low of $3.70 and a twelve month high of $12.32. The company has a quick ratio of 1.66, a current ratio of 1.96 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $7.40 and a 200-day moving average of $7.99.

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

CAMP has been the topic of several recent analyst reports. Goldman Sachs Group decreased their price target on CalAmp from $7.75 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, March 19th. Zacks Investment Research lowered CalAmp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 9th. Jefferies Financial Group raised CalAmp from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Friday, April 17th. 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 issued a $11.00 price objective 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 given a hold rating and seven have issued a buy rating to the company’s stock. CalAmp presently has a consensus 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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