Zacks: Brokerages Anticipate CalAmp Corp. (CAMP) Will Post Earnings of $0.27 Per Share
Equities analysts predict that CalAmp Corp. (NASDAQ:CAMP) will announce earnings of $0.27 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for CalAmp Corp.’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.28. CalAmp Corp. also reported earnings per share of $0.27 in the same quarter last year. The company is expected to report its next quarterly earnings report after the market closes on Thursday, September 28th.
On average, analysts expect that CalAmp Corp. will report full-year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.23. For the next year, analysts expect that the company will report earnings of $1.35 per share, with EPS estimates ranging from $1.29 to $1.37. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover CalAmp Corp..
CalAmp Corp. (NASDAQ:CAMP) last issued its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. CalAmp Corp. had a positive return on equity of 18.84% and a negative net margin of 2.05%. The firm had revenue of $88.10 million for the quarter, compared to analyst estimates of $86.85 million. During the same period in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis.
Several analysts have issued reports on the company. B. Riley restated a “buy” rating and issued a $28.00 target price on shares of CalAmp Corp. in a research note on Saturday, July 1st. BidaskClub upgraded CalAmp Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Northland Securities reiterated a “buy” rating and set a $22.00 price objective on shares of CalAmp Corp. in a research note on Tuesday, September 5th. Craig Hallum boosted their price objective on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co started coverage on CalAmp Corp. in a research note on Monday, August 28th. They set a “neutral” rating and a $20.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. CalAmp Corp. presently has an average rating of “Hold” and a consensus target price of $21.00.
In related news, CEO Michael J. Burdiek sold 10,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief executive officer now directly owns 479,093 shares in the company, valued at approximately $9,581,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Columbus Circle Investors bought a new position in CalAmp Corp. during the 2nd quarter valued at approximately $4,021,000. Tributary Capital Management LLC raised its position in CalAmp Corp. by 33.8% during the 1st quarter. Tributary Capital Management LLC now owns 714,226 shares of the Wireless communications provider’s stock valued at $11,992,000 after purchasing an additional 180,468 shares during the last quarter. Dimensional Fund Advisors LP raised its position in CalAmp Corp. by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock valued at $35,274,000 after purchasing an additional 155,739 shares during the last quarter. Divisar Capital Management LLC raised its position in CalAmp Corp. by 24.3% during the 1st quarter. Divisar Capital Management LLC now owns 708,289 shares of the Wireless communications provider’s stock valued at $11,892,000 after purchasing an additional 138,372 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its position in CalAmp Corp. by 23.7% during the 2nd quarter. Rice Hall James & Associates LLC now owns 665,196 shares of the Wireless communications provider’s stock valued at $13,523,000 after purchasing an additional 127,640 shares during the last quarter. Institutional investors own 72.88% of the company’s stock.
CalAmp Corp. (NASDAQ:CAMP) opened at 19.36 on Friday. The firm’s market capitalization is $685.27 million. The firm has a 50-day moving average price of $18.69 and a 200-day moving average price of $18.33. CalAmp Corp. has a one year low of $12.13 and a one year high of $20.89.
CalAmp Corp. Company Profile
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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