CalAmp Corp. (CAMP) Set to Announce Earnings on Thursday
CalAmp Corp. (NASDAQ:CAMP) is set to post its quarterly earnings results after the market closes on Thursday, September 28th. Analysts expect CalAmp Corp. to post earnings of $0.26 per share for the quarter. CalAmp Corp. has set its Q2 guidance at $0.23-0.29 EPS.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings data on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $88.10 million during the quarter, compared to analysts’ expectations of $86.85 million. During the same quarter last year, the business posted $0.30 EPS. The business’s revenue was down 3.3% on a year-over-year basis. On average, analysts expect CalAmp Corp. to post $1.17 EPS for the current fiscal year and $1.35 EPS for the next fiscal year.
In related news, CEO Michael J. Burdiek sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief executive officer now owns 479,093 shares in the company, valued at $9,581,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is currently owned by insiders.
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Several brokerages have issued reports on CAMP. Northland Securities restated a “buy” rating and set a $22.00 target price on shares of CalAmp Corp. in a research report on Tuesday, September 5th. J P Morgan Chase & Co began coverage on CalAmp Corp. in a research report on Monday, August 28th. They set a “neutral” rating and a $20.00 target price for the company. BidaskClub upgraded CalAmp Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. B. Riley restated a “buy” rating and set a $28.00 target price on shares of CalAmp Corp. in a research report on Saturday, July 1st. Finally, Craig Hallum boosted their target price on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, June 28th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.00.
About CalAmp Corp.
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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