Equities analysts predict that Casa Systems Inc (NASDAQ:CASA) will report sales of $110.15 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Casa Systems’ earnings, with the lowest sales estimate coming in at $105.00 million and the highest estimate coming in at $114.00 million. Casa Systems posted sales of $71.51 million in the same quarter last year, which suggests a positive year over year growth rate of 54%. The firm is expected to report its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Casa Systems will report full-year sales of $325.38 million for the current fiscal year, with estimates ranging from $320.10 million to $331.60 million. For the next year, analysts forecast that the business will post sales of $465.02 million, with estimates ranging from $441.50 million to $493.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Casa Systems.

Casa Systems (NASDAQ:CASA) last announced its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. Casa Systems had a net margin of 8.71% and a return on equity of 32.65%. The business had revenue of $52.10 million during the quarter, compared to analysts’ expectations of $49.59 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was down 24.2% on a year-over-year basis.

Several brokerages recently commented on CASA. Barclays began coverage on shares of Casa Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $8.00 target price for the company. ValuEngine upgraded shares of Casa Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Raymond James cut shares of Casa Systems from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 30th. Morgan Stanley cut their price target on shares of Casa Systems from $11.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Finally, Zacks Investment Research upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.28.

CASA traded down $0.19 during trading hours on Thursday, hitting $6.23. 214,700 shares of the company’s stock were exchanged, compared to its average volume of 405,183. Casa Systems has a 1-year low of $5.46 and a 1-year high of $16.75. The stock’s 50-day moving average is $6.68 and its two-hundred day moving average is $8.06. The stock has a market cap of $513.88 million, a price-to-earnings ratio of 7.79 and a beta of 0.76. The company has a quick ratio of 5.02, a current ratio of 6.25 and a debt-to-equity ratio of 4.20.

Hedge funds have recently made changes to their positions in the business. Cutler Group LP lifted its stake in Casa Systems by 3,864.0% in the second quarter. Cutler Group LP now owns 3,964 shares of the company’s stock valued at $25,000 after acquiring an additional 3,864 shares during the last quarter. Royce & Associates LP lifted its stake in Casa Systems by 144.8% in the first quarter. Royce & Associates LP now owns 4,871 shares of the company’s stock valued at $40,000 after acquiring an additional 2,881 shares during the last quarter. Quantamental Technologies LLC lifted its stake in Casa Systems by 1,044.9% in the second quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock valued at $38,000 after acquiring an additional 5,381 shares during the last quarter. Bank of Montreal Can lifted its stake in Casa Systems by 590,300.0% in the second quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock valued at $38,000 after acquiring an additional 5,903 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Casa Systems by 609.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,213 shares of the company’s stock valued at $52,000 after acquiring an additional 5,337 shares during the last quarter. Hedge funds and other institutional investors own 67.07% 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.

Further Reading: Return on Equity (ROE)

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