CalAmp Corp. (CAMP) Issues Q2 Earnings Guidance
CalAmp Corp. (NASDAQ:CAMP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.17-0.21 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.22, StockRatingsNetwork reports. The company issued revenue guidance of $57-61 mn, compared to the consensus revenue estimate of $62.36 million.
Several analysts have recently commented on the stock. 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $30.19.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded up 1.85% on Tuesday, hitting $22.06. The stock had a trading volume of 1,955,929 shares. CalAmp Corp. has a 52-week low of $14.68 and a 52-week high of $34.85. The stock has a 50-day moving average of $19.05 and a 200-day moving average of $25.38. The company has a market cap of $779.4 million and a P/E ratio of 65.64.
CalAmp Corp. (NASDAQ:CAMP) last released its earnings data on Tuesday, July 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. 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. Analysts expect that CalAmp Corp. will post $0.97 EPS for the current fiscal year.
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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