CSP (CSPI) Set to Announce Quarterly Earnings on Wednesday

CSP (NASDAQ:CSPI) is set to announce its earnings results before the market opens on Wednesday, May 8th. Investors that wish to listen to the company’s conference call can do so using this link.

CSP (NASDAQ:CSPI) last posted its quarterly earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) earnings per share for the quarter. CSP had a net margin of 6.33% and a return on equity of 8.76%. The company had revenue of $15.38 million during the quarter.

CSP Stock Down 2.8 %

CSPI traded down $0.37 during midday trading on Tuesday, hitting $12.88. The company had a trading volume of 102,876 shares, compared to its average volume of 153,435. CSP has a 52 week low of $4.91 and a 52 week high of $29.92. The company has a market capitalization of $125.06 million, a price-to-earnings ratio of 28.23 and a beta of 1.30. The stock’s 50 day moving average price is $18.34 and its 200 day moving average price is $14.05.

CSP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.78%. The ex-dividend date was Friday, February 23rd. CSP’s dividend payout ratio (DPR) is currently 22.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com cut shares of CSP from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet cut shares of CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th.

Insider Activity

In other news, insider Joseph R. Nerges purchased 1,940 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $17.97 per share, for a total transaction of $34,852.10. Following the completion of the acquisition, the insider now owns 1,335,366 shares in the company, valued at $23,989,850.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 3,140 shares of company stock worth $57,400 over the last three months. 15.30% of the stock is currently owned by insiders.

CSP Company Profile

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.