Casa Systems (NASDAQ:CASA) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Casa Systems (NASDAQ:CASA) announced its earnings results on Thursday. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04, MarketWatch Earnings reports. The business had revenue of $83.35 million during the quarter, compared to analysts’ expectations of $79.50 million. Casa Systems had a negative net margin of 9.96% and a negative return on equity of 7.58%. Casa Systems updated its FY 2020
After-Hours guidance to 0.00-0.12 EPS.

NASDAQ CASA opened at $5.61 on Friday. The company has a debt-to-equity ratio of 7.30, a quick ratio of 2.90 and a current ratio of 4.04. The firm has a 50-day moving average of $4.38 and a 200-day moving average of $4.02. Casa Systems has a 52-week low of $1.85 and a 52-week high of $8.03.

Several equities research analysts have recently commented on CASA shares. JPMorgan Chase & Co. started coverage on Casa Systems in a report on Tuesday, April 14th. They issued an “underweight” rating for the company. Northland Securities reiterated a “buy” rating and issued a $8.00 price target on shares of Casa Systems in a research note on Friday. Barclays restated a “hold” rating and set a $5.00 price objective on shares of Casa Systems in a research note on Sunday, May 3rd. Zacks Investment Research downgraded shares of Casa Systems from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Finally, Morgan Stanley boosted their price target on Casa Systems from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $5.75.

About Casa Systems

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

Further Reading: What is required to own or exchange cryptocurrency?

Earnings History for Casa Systems (NASDAQ:CASA)

Receive News & Ratings for Casa Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casa Systems and related companies with MarketBeat.com's FREE daily email newsletter.