Equities research analysts forecast that Casa Systems Inc (NASDAQ:CASA) will announce earnings of $0.16 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Casa Systems’ earnings. The highest EPS estimate is $0.24 and the lowest is $0.13. Casa Systems reported earnings of $0.57 per share during the same quarter last year, which suggests a negative year over year growth rate of 71.9%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, March 5th.

On average, analysts expect that Casa Systems will report full year earnings of $0.86 per share for the current fiscal year, with EPS estimates ranging from $0.83 to $0.93. For the next financial year, analysts anticipate that the firm will report earnings of $0.78 per share, with EPS estimates ranging from $0.60 to $0.99. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Casa Systems.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, November 14th. ValuEngine lowered shares of Casa Systems from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Needham & Company LLC started coverage on shares of Casa Systems in a report on Sunday, December 9th. They issued a “buy” rating and a $15.08 price objective for the company. Stifel Nicolaus lowered shares of Casa Systems from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $18.00 to $14.00 in a report on Friday, January 18th. Finally, Morgan Stanley downgraded shares of Casa Systems from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $18.00 to $11.00 in a research report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Casa Systems has an average rating of “Hold” and a consensus price target of $17.25.

CASA traded up $0.44 on Monday, hitting $11.77. The company had a trading volume of 16,312 shares, compared to its average volume of 495,300. The company has a debt-to-equity ratio of 3.43, a current ratio of 5.09 and a quick ratio of 4.61. Casa Systems has a 52-week low of $10.50 and a 52-week high of $34.21. The firm has a market capitalization of $978.24 million, a PE ratio of 14.90 and a beta of -0.38.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASA. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Casa Systems in the fourth quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Casa Systems during the fourth quarter valued at $33,000. LPL Financial LLC acquired a new stake in Casa Systems during the third quarter valued at $150,000. Victory Capital Management Inc. acquired a new stake in Casa Systems during the third quarter valued at $194,000. Finally, California Public Employees Retirement System acquired a new stake in Casa Systems during the fourth quarter valued at $182,000. Hedge funds and other institutional investors own 63.86% 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 software-centric infrastructure 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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