Wall Street brokerages forecast that Casa Systems Inc (NASDAQ:CASA) will announce $76.87 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Casa Systems’ earnings, with the lowest sales estimate coming in at $66.08 million and the highest estimate coming in at $83.50 million. Casa Systems posted sales of $52.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 47.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, July 29th.
On average, analysts expect that Casa Systems will report full year sales of $351.81 million for the current year, with estimates ranging from $345.00 million to $360.00 million. For the next year, analysts forecast that the business will post sales of $387.99 million, with estimates ranging from $371.50 million to $411.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Casa Systems.
Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The firm had revenue of $83.62 million for the quarter, compared to analyst estimates of $70.95 million. Casa Systems had a positive return on equity of 3.56% and a negative net margin of 9.60%.
CASA has been the subject of several recent analyst reports. Zacks Investment Research lowered Casa Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays restated a “hold” rating and issued a $5.00 price target on shares of Casa Systems in a research note on Sunday, May 3rd. Morgan Stanley lifted their price target on Casa Systems from $2.70 to $4.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. BidaskClub lowered Casa Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Northland Securities reiterated a “buy” rating and set a $7.00 price objective on shares of Casa Systems in a research note on Friday, May 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $5.13.
Shares of Casa Systems stock opened at $4.21 on Friday. The company has a quick ratio of 2.90, a current ratio of 4.04 and a debt-to-equity ratio of 7.30. Casa Systems has a twelve month low of $1.85 and a twelve month high of $8.03. The business has a 50-day moving average price of $4.11 and a 200 day moving average price of $3.80. The firm has a market cap of $349.60 million, a PE ratio of -10.79 and a beta of 1.07.
A number of large investors have recently bought and sold shares of CASA. State Street Corp grew its position in shares of Casa Systems by 22.3% in the third quarter. State Street Corp now owns 645,315 shares of the company’s stock valued at $5,069,000 after purchasing an additional 117,609 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Casa Systems by 43.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 386,084 shares of the company’s stock valued at $1,579,000 after purchasing an additional 117,064 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Casa Systems by 398.2% in the fourth quarter. California Public Employees Retirement System now owns 313,994 shares of the company’s stock valued at $1,284,000 after purchasing an additional 250,962 shares in the last quarter. Peregrine Capital Management LLC grew its position in shares of Casa Systems by 61.7% in the first quarter. Peregrine Capital Management LLC now owns 1,272,545 shares of the company’s stock valued at $4,454,000 after purchasing an additional 485,606 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Casa Systems by 182.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 70,917 shares of the company’s stock valued at $290,000 after purchasing an additional 45,802 shares in the last quarter. Institutional investors own 69.45% of the company’s stock.
Casa Systems Company Profile
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.
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