CalAmp (NASDAQ:CAMP) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

CalAmp (NASDAQ:CAMP) issued its quarterly earnings results on Thursday. The Wireless communications provider reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.11, reports. The company had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $91.50 million. CalAmp had a return on equity of 11.85% and a net margin of 0.33%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. CalAmp updated its Q3 2020 guidance to $0.11-0.17 EPS and its Q3 guidance to $0.11-$0.17 EPS.

NASDAQ CAMP opened at $11.36 on Friday. CalAmp has a 12 month low of $9.35 and a 12 month high of $24.37. The stock has a market cap of $395.82 million, a P/E ratio of 16.81, a P/E/G ratio of 3.63 and a beta of 1.97. The stock’s fifty day moving average price is $10.37 and its 200-day moving average price is $11.60. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01.

Several equities research analysts recently weighed in on the company. ValuEngine raised CalAmp from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research raised CalAmp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Northland Securities reaffirmed a “buy” rating on shares of CalAmp in a research note on Tuesday, September 3rd. BidaskClub raised CalAmp from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Finally, TheStreet cut CalAmp from a “c” rating to a “d+” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $19.38.

In related news, Director Larry J. Wolfe bought 50,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were purchased at an average cost of $11.33 per share, with a total value of $566,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

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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Earnings History for CalAmp (NASDAQ:CAMP)

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