CalAmp (NASDAQ:CAMP) Announces Quarterly Earnings Results

CalAmp (NASDAQ:CAMP) issued its earnings results on Thursday. The Wireless communications provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.18), Morningstar.com reports. CalAmp had a return on equity of 11.76% and a net margin of 0.33%. The firm had revenue of $89.10 million during the quarter, compared to analyst estimates of $86.91 million. During the same period in the previous year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. CalAmp updated its Q2 guidance to $0.08-0.14 EPS.

Shares of NASDAQ CAMP opened at $11.68 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.44 and a current ratio of 4.83. The firm has a market cap of $392.52 million, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 2.55 and a beta of 2.03. The firm’s 50-day moving average is $11.39. CalAmp has a 52 week low of $9.95 and a 52 week high of $24.52.

Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP acquired a new position in shares of CalAmp during the 1st quarter valued at about $26,000. Quantamental Technologies LLC acquired a new position in shares of CalAmp during the 1st quarter valued at about $70,000. Metropolitan Life Insurance Co. NY grew its holdings in CalAmp by 423.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,925 shares of the Wireless communications provider’s stock valued at $155,000 after buying an additional 9,648 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in CalAmp in the 4th quarter valued at approximately $172,000. Finally, Bbva Compass Bancshares Inc. grew its holdings in CalAmp by 9.3% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 14,769 shares of the Wireless communications provider’s stock valued at $186,000 after buying an additional 1,260 shares during the last quarter. 79.59% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on CAMP. TheStreet lowered CalAmp from a “c” rating to a “d+” rating in a research report on Thursday. BidaskClub raised CalAmp from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research raised CalAmp from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Craig Hallum reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of CalAmp in a research report on Wednesday, May 1st. Finally, ValuEngine lowered CalAmp from a “hold” rating to a “sell” rating in a research report on Saturday, June 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.38.

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.

Read More: How to interpret Moving Average Convergence Divergence (MACD)

Earnings History for CalAmp (NASDAQ:CAMP)

Receive News & Ratings for CalAmp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CalAmp and related companies with MarketBeat.com's FREE daily email newsletter.