CalAmp Corp. (CAMP) Expected to Announce Quarterly Sales of $89.89 Million

Wall Street brokerages expect CalAmp Corp. (NASDAQ:CAMP) to announce sales of $89.89 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for CalAmp’s earnings. The highest sales estimate is $94.40 million and the lowest is $88.80 million. CalAmp posted sales of $94.40 million in the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The business is expected to announce its next quarterly earnings report on Thursday, April 25th.

According to Zacks, analysts expect that CalAmp will report full year sales of $368.02 million for the current fiscal year, with estimates ranging from $365.91 million to $368.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $378.68 million, with estimates ranging from $368.41 million to $397.25 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for CalAmp.

A number of research firms have recently weighed in on CAMP. JPMorgan Chase & Co. lowered shares of CalAmp from an “overweight” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Monday, March 25th. Zacks Investment Research upgraded shares of CalAmp from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine lowered shares of CalAmp from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. BidaskClub lowered shares of CalAmp from a “sell” rating to a “strong sell” rating in a report on Thursday, January 17th. Finally, Craig Hallum upgraded shares of CalAmp from a “hold” rating to a “buy” rating and dropped their target price for the stock from $25.00 to $17.00 in a report on Friday, December 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. CalAmp currently has an average rating of “Hold” and an average target price of $21.44.

Shares of CalAmp stock traded up $0.42 during trading on Friday, reaching $13.50. 335,451 shares of the stock were exchanged, compared to its average volume of 274,903. The company has a current ratio of 4.29, a quick ratio of 3.96 and a debt-to-equity ratio of 1.35. The firm has a market cap of $456.00 million, a P/E ratio of 14.67, a P/E/G ratio of 1.80 and a beta of 1.82. CalAmp has a 1 year low of $10.91 and a 1 year high of $24.52.

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of CalAmp during the third quarter valued at approximately $202,000. Martingale Asset Management L P bought a new stake in shares of CalAmp during the third quarter valued at approximately $411,000. BlackRock Inc. increased its position in shares of CalAmp by 3.2% during the third quarter. BlackRock Inc. now owns 5,368,868 shares of the Wireless communications provider’s stock valued at $128,638,000 after acquiring an additional 166,312 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CalAmp by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,665,896 shares of the Wireless communications provider’s stock valued at $39,913,000 after acquiring an additional 13,219 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of CalAmp by 65.6% during the third quarter. Renaissance Technologies LLC now owns 717,600 shares of the Wireless communications provider’s stock valued at $17,194,000 after acquiring an additional 284,300 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services worldwide. The company provides mobile resource management telematics devices for the Internet of Things market, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets.

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Earnings History and Estimates for CalAmp (NASDAQ:CAMP)

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