Casa Systems Inc (NASDAQ:CASA) Expected to Announce Quarterly Sales of $45.05 Million

Wall Street brokerages forecast that Casa Systems Inc (NASDAQ:CASA) will report sales of $45.05 million for the current quarter, according to Zacks. Two analysts have provided estimates for Casa Systems’ earnings, with estimates ranging from $42.60 million to $47.50 million. Casa Systems reported sales of $68.72 million during the same quarter last year, which indicates a negative year-over-year growth rate of 34.4%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Casa Systems will report full-year sales of $236.75 million for the current year, with estimates ranging from $236.40 million to $237.10 million. For the next financial year, analysts anticipate that the company will post sales of $279.15 million, with estimates ranging from $270.60 million to $287.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Casa Systems.

Casa Systems (NASDAQ:CASA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.18). Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The business had revenue of $35.50 million for the quarter, compared to the consensus estimate of $55.83 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue was down 60.2% compared to the same quarter last year.

Several research firms recently issued reports on CASA. Morgan Stanley boosted their price target on Visa from $175.00 to $191.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Casa Systems has a consensus rating of “Hold” and an average target price of $13.94.

Shares of NASDAQ CASA traded up $0.01 during midday trading on Tuesday, hitting $6.64. 137,040 shares of the company’s stock were exchanged, compared to its average volume of 246,292. The company has a quick ratio of 4.23, a current ratio of 5.12 and a debt-to-equity ratio of 4.47. Casa Systems has a 12 month low of $5.46 and a 12 month high of $16.75. The business has a 50 day moving average of $6.19. The company has a market capitalization of $556.63 million, a price-to-earnings ratio of 8.30 and a beta of 0.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CASA. Royce & Associates LP raised its holdings in Casa Systems by 144.8% in the 1st 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 in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Casa Systems by 609.2% in the 1st 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 in the last quarter. Marshall Wace North America L.P. acquired a new position in Casa Systems in the 1st quarter valued at $75,000. Great West Life Assurance Co. Can acquired a new position in Casa Systems in the 4th quarter valued at $79,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Casa Systems by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,129 shares of the company’s stock valued at $120,000 after acquiring an additional 7,130 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.

About Casa Systems

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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