$88.41 Million in Sales Expected for CalAmp Corp. (CAMP) This Quarter
Wall Street analysts predict that CalAmp Corp. (NASDAQ:CAMP) will report $88.41 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CalAmp Corp.’s earnings, with the highest sales estimate coming in at $88.60 million and the lowest estimate coming in at $88.02 million. CalAmp Corp. posted sales of $90.48 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The business is expected to announce its next quarterly earnings results on Thursday, October 5th.
On average, analysts expect that CalAmp Corp. will report full-year sales of $88.41 million for the current fiscal year, with estimates ranging from $359.38 million to $361.27 million. For the next fiscal year, analysts expect that the firm will report sales of $384.40 million per share, with estimates ranging from $379.65 million to $390.34 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow CalAmp Corp..
CalAmp Corp. (NASDAQ:CAMP) last announced its quarterly earnings results on Tuesday, June 27th. The Wireless communications provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $88.10 million during the quarter, compared to the consensus estimate of $86.85 million. During the same period in the previous year, the company posted $0.30 earnings per share. CalAmp Corp.’s revenue for the quarter was down 3.3% on a year-over-year basis.
Several analysts have recently commented on the company. BidaskClub cut CalAmp Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. B. Riley reissued a “buy” rating and issued a $28.00 price target on shares of CalAmp Corp. in a report on Saturday, July 1st. Craig Hallum raised their price target on CalAmp Corp. from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. Northland Securities reissued a “buy” rating and issued a $20.00 price target on shares of CalAmp Corp. in a report on Monday, June 26th. Finally, Benchmark Co. assumed coverage on CalAmp Corp. in a report on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.88.
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Shares of CalAmp Corp. (NASDAQ:CAMP) traded down 0.55% on Friday, reaching $17.99. The company’s stock had a trading volume of 242,923 shares. CalAmp Corp. has a 1-year low of $12.13 and a 1-year high of $20.89. The company’s market capitalization is $636.77 million. The stock has a 50-day moving average price of $19.37 and a 200-day moving average price of $17.77.
In related news, CEO Michael J. Burdiek sold 10,000 shares of CalAmp Corp. stock in a transaction on 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 transaction, the chief executive officer now directly owns 479,093 shares of the company’s stock, valued at $9,581,860. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Garo Sarkis Sarkissian sold 15,000 shares of CalAmp Corp. stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $18.83, for a total value of $282,450.00. Following the transaction, the senior vice president now directly owns 200,680 shares of the company’s stock, valued at $3,778,804.40. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Columbus Circle Investors purchased a new position in shares of CalAmp Corp. during the second quarter valued at about $4,021,000. Tributary Capital Management LLC boosted its position in shares of CalAmp Corp. by 33.8% in the first quarter. Tributary Capital Management LLC now owns 714,226 shares of the Wireless communications provider’s stock valued at $11,992,000 after buying an additional 180,468 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CalAmp Corp. by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,735,058 shares of the Wireless communications provider’s stock valued at $35,274,000 after buying an additional 155,739 shares in the last quarter. Divisar Capital Management LLC boosted its position in shares of CalAmp Corp. by 24.3% in the first quarter. Divisar Capital Management LLC now owns 708,289 shares of the Wireless communications provider’s stock valued at $11,892,000 after buying an additional 138,372 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of CalAmp Corp. by 32.3% in the first quarter. Rice Hall James & Associates LLC now owns 537,556 shares of the Wireless communications provider’s stock valued at $9,026,000 after buying an additional 131,252 shares in the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.
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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