Casa Systems (NASDAQ:CASA) posted its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.15, Briefing.com reports. Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The company had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $49.59 million. During the same period last year, the firm earned $0.24 earnings per share. Casa Systems’s quarterly revenue was down 24.2% on a year-over-year basis. Casa Systems updated its FY 2019 guidance to $0.20-0.30 EPS.
Shares of NASDAQ CASA traded down $0.34 during midday trading on Friday, reaching $7.27. 445,000 shares of the company were exchanged, compared to its average volume of 405,220. The company has a current ratio of 5.12, a quick ratio of 4.23 and a debt-to-equity ratio of 4.47. Casa Systems has a 1 year low of $5.46 and a 1 year high of $16.75. The company’s fifty day moving average is $6.49. The company has a market capitalization of $614.79 million, a PE ratio of 9.09 and a beta of 0.75.
A number of research firms have weighed in on CASA. Morgan Stanley cut their price target on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. ValuEngine raised Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Raymond James lowered Casa Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday. Finally, Zacks Investment Research raised Casa Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.94.
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.
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