Casa Systems (NASDAQ:CASA) issued its quarterly earnings data on Wednesday. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.15, Briefing.com reports. The firm had revenue of $52.10 million during the quarter, compared to analysts’ expectations of $49.59 million. Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Casa Systems updated its FY 2019 guidance to $0.20-0.30 EPS.
Shares of CASA traded down $0.34 on Friday, reaching $7.27. The stock had a trading volume of 445,000 shares, compared to its average volume of 405,220. The stock has a market cap of $614.79 million, a price-to-earnings ratio of 9.09 and a beta of 0.75. The company has a debt-to-equity ratio of 4.47, a current ratio of 5.12 and a quick ratio of 4.23. The company’s 50-day moving average is $6.49. Casa Systems has a twelve month low of $5.46 and a twelve month high of $16.75.
CASA has been the topic of several analyst reports. ValuEngine raised Casa Systems from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Raymond James downgraded Casa Systems from a “market perform” rating to an “underperform” rating in a research report on Tuesday. Zacks Investment Research upgraded Casa Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Tuesday, July 16th. Finally, Morgan Stanley cut their target price on 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company 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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