CalAmp Corp. (CAMP) Issues Q1 Earnings Guidance
CalAmp Corp. (NASDAQ:CAMP) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.24-0.32 for the period, compared to the Thomson Reuters consensus estimate of $0.28. The company issued revenue guidance of $84-90 million, compared to the consensus revenue estimate of $88.15 million.
Shares of CalAmp Corp. (NASDAQ:CAMP) traded down 0.93% during midday trading on Tuesday, reaching $15.90. 489,506 shares of the company’s stock traded hands. CalAmp Corp. has a one year low of $12.13 and a one year high of $17.69. The firm has a market capitalization of $563.05 million, a PE ratio of 318.00 and a beta of 1.36. The stock’s 50-day moving average price is $16.51 and its 200 day moving average price is $15.11.
CAMP has been the subject of several analyst reports. Zacks Investment Research cut CalAmp Corp. from a hold rating to a sell rating in a report on Tuesday, January 17th. William Blair reaffirmed a market perform rating on shares of CalAmp Corp. in a research note on Monday, December 26th. Canaccord Genuity reaffirmed a buy rating and issued a $23.00 price target on shares of CalAmp Corp. in a research note on Monday, March 6th. Sidoti lowered CalAmp Corp. from a buy rating to a neutral rating in a research note on Wednesday, March 22nd. Finally, B. Riley reaffirmed a buy rating and issued a $22.00 price target on shares of CalAmp Corp. in a research note on Monday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. CalAmp Corp. presently has a consensus rating of Hold and an average price target of $19.29.
In related news, SVP Garo Sarkis Sarkissian sold 10,000 shares of the stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the transaction, the senior vice president now owns 205,680 shares of the company’s stock, valued at approximately $3,124,279.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.
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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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