Casa Systems Inc (CASA) Expected to Post Quarterly Sales of $56.40 Million

Equities analysts predict that Casa Systems Inc (NASDAQ:CASA) will report sales of $56.40 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Casa Systems’ earnings, with the lowest sales estimate coming in at $50.00 million and the highest estimate coming in at $60.80 million. Casa Systems reported sales of $89.07 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 36.7%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 1st.

According to Zacks, analysts expect that Casa Systems will report full year sales of $273.08 million for the current fiscal year, with estimates ranging from $264.00 million to $280.00 million. For the next financial year, analysts anticipate that the firm will report sales of $310.50 million, with estimates ranging from $295.00 million to $318.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Casa Systems.

Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Casa Systems had a return on equity of 86.77% and a net margin of 24.57%. The company had revenue of $67.83 million for the quarter, compared to the consensus estimate of $65.93 million.

A number of research analysts have recently commented on CASA shares. DA Davidson started coverage on Casa Systems in a report on Monday, March 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Needham & Company LLC dropped their price objective on Casa Systems from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, January 18th. Morgan Stanley downgraded Casa Systems from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $18.00 to $11.00 in a report on Friday, January 18th. Zacks Investment Research upgraded Casa Systems from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus downgraded Casa Systems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $18.00 to $14.00 in a report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Casa Systems currently has a consensus rating of “Hold” and an average price target of $15.63.

Shares of CASA traded up $0.01 during mid-day trading on Tuesday, reaching $9.52. The company’s stock had a trading volume of 1,188,559 shares, compared to its average volume of 347,503. Casa Systems has a 12-month low of $8.11 and a 12-month high of $32.63. The company has a market cap of $797.05 million, a P/E ratio of 11.90 and a beta of -0.53. The company has a debt-to-equity ratio of 3.92, a quick ratio of 4.11 and a current ratio of 4.69.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in shares of Casa Systems by 6.1% in the 4th quarter. Deutsche Bank AG now owns 57,501 shares of the company’s stock valued at $752,000 after purchasing an additional 3,288 shares during the period. American Century Companies Inc. acquired a new stake in shares of Casa Systems in the 4th quarter valued at about $10,925,000. Geode Capital Management LLC boosted its position in shares of Casa Systems by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 386,842 shares of the company’s stock valued at $5,079,000 after purchasing an additional 54,942 shares during the period. FMR LLC boosted its position in shares of Casa Systems by 48.3% in the 4th quarter. FMR LLC now owns 301,771 shares of the company’s stock valued at $3,962,000 after purchasing an additional 98,226 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Casa Systems in the 4th quarter valued at about $265,000. 66.58% of the stock is owned by hedge funds and other institutional investors.

Casa Systems Company Profile

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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