$83.67 Million in Sales Expected for CalAmp Corp. (NASDAQ:CAMP) This Quarter

Wall Street analysts forecast that CalAmp Corp. (NASDAQ:CAMP) will post sales of $83.67 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CalAmp’s earnings. The highest sales estimate is $84.71 million and the lowest is $82.56 million. CalAmp reported sales of $87.20 million in the same quarter last year, which indicates a negative year over year growth rate of 4%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, April 22nd.

According to Zacks, analysts expect that CalAmp will report full year sales of $335.43 million for the current financial year, with estimates ranging from $334.32 million to $336.48 million. For the next year, analysts forecast that the business will report sales of $324.39 million, with estimates ranging from $303.80 million to $333.80 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover CalAmp.

CAMP has been the topic of several research reports. JPMorgan Chase & Co. cut shares of CalAmp from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $10.00 to $11.00 in a research report on Friday, December 18th. Zacks Investment Research raised shares of CalAmp from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, March 23rd. Finally, Canaccord Genuity boosted their price objective on shares of CalAmp from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.65.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in CalAmp by 3.8% in the 4th quarter. BlackRock Inc. now owns 5,332,915 shares of the Wireless communications provider’s stock valued at $52,903,000 after buying an additional 193,188 shares during the last quarter. State Street Corp increased its stake in shares of CalAmp by 0.9% during the 3rd quarter. State Street Corp now owns 1,339,815 shares of the Wireless communications provider’s stock worth $9,633,000 after purchasing an additional 11,839 shares during the last quarter. Lazard Asset Management LLC acquired a new position in CalAmp in the 4th quarter valued at about $52,000. Credit Suisse AG acquired a new position in CalAmp in the 4th quarter valued at about $129,000. Finally, SG Americas Securities LLC acquired a new position in CalAmp in the 4th quarter valued at about $575,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

CAMP opened at $11.72 on Friday. The stock has a market capitalization of $410.61 million, a P/E ratio of -3.87 and a beta of 2.48. CalAmp has a 12 month low of $4.82 and a 12 month high of $12.33. The firm’s fifty day simple moving average is $11.34 and its 200 day simple moving average is $9.94. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.82.

About CalAmp

CalAmp Corp. provides in telematics systems, and software and subscription services in the United States, Latin America, Western Europe, Asia Pacific, the Middle East, Africa, and internationally. The company offers 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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