CalAmp Corp. (CAMP) Announces Quarterly Earnings, Beats Expectations By $0.01 EPS
CalAmp Corp. (NASDAQ:CAMP) announced its earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01, AnalystRatings.Net reports. The company had revenue of $59.00 million for the quarter, compared to the consensus estimate of $57.98 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. CalAmp Corp. updated its Q2 guidance to $0.17-0.21 EPS.
CalAmp Corp. (NASDAQ:CAMP) traded up 1.85% on Tuesday, hitting $22.06. The stock had a trading volume of 1,956,825 shares. CalAmp Corp. has a 52-week low of $14.68 and a 52-week high of $34.85. The stock’s 50-day moving average is $19.05 and its 200-day moving average is $25.38. The company has a market cap of $779.4 million and a price-to-earnings ratio of 65.64.
A number of analysts have recently weighed in on CAMP shares. Analysts at Zacks upgraded shares of CalAmp Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 25th. They now have a $21.40 price target on the stock. On a related note, analysts at Stephens initiated coverage on shares of CalAmp Corp. in a research note on Thursday, May 15th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, analysts at First Analysis upgraded shares of CalAmp Corp. from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $30.19.
CalAmp Corp. (NASDAQ:CAMP) develops and markets wireless technology solutions that deliver data, voice and video for critical networked communications and other applications.
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