$89.77 Million in Sales Expected for Casa Systems Inc (NASDAQ:CASA) This Quarter

Wall Street analysts forecast that Casa Systems Inc (NASDAQ:CASA) will post sales of $89.77 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Casa Systems’ earnings. The lowest sales estimate is $85.70 million and the highest is $95.00 million. Casa Systems posted sales of $67.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.3%. The company is scheduled to report its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that Casa Systems will report full-year sales of $260.38 million for the current financial year, with estimates ranging from $255.10 million to $264.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $366.65 million, with estimates ranging from $329.30 million to $401.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Casa Systems.

Casa Systems (NASDAQ:CASA) last posted its earnings results on Thursday, October 31st. The company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.13). Casa Systems had a positive return on equity of 0.01% and a negative net margin of 3.22%. The company had revenue of $81.80 million during the quarter, compared to analyst estimates of $108.08 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year.

A number of research firms have commented on CASA. Needham & Company LLC reissued a “hold” rating on shares of Casa Systems in a research note on Friday, November 1st. Northland Securities lowered Casa Systems from an “outperform” rating to a “market perform” rating and set a $7.00 price objective on the stock. in a research note on Friday, November 1st. Barclays reissued a “hold” rating and issued a $7.00 price objective on shares of Casa Systems in a research note on Sunday, November 3rd. Raymond James lowered Casa Systems from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 30th. Finally, Zacks Investment Research lowered Casa Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Casa Systems currently has an average rating of “Hold” and an average price target of $9.93.

CASA traded down $0.12 on Thursday, hitting $3.53. The company had a trading volume of 352,100 shares, compared to its average volume of 389,089. The company has a debt-to-equity ratio of 4.20, a current ratio of 6.25 and a quick ratio of 5.02. The stock has a market cap of $329.45 million, a price-to-earnings ratio of 4.41 and a beta of 0.87. The company’s fifty day moving average price is $6.43 and its 200 day moving average price is $6.62. Casa Systems has a 1-year low of $3.47 and a 1-year high of $16.42.

Several institutional investors and hedge funds have recently modified their holdings of CASA. Cutler Group LP lifted its stake in shares of Casa Systems by 3,864.0% during the second quarter. Cutler Group LP now owns 3,964 shares of the company’s stock valued at $25,000 after acquiring an additional 3,864 shares during the period. Quantamental Technologies LLC increased its holdings in Casa Systems by 1,044.9% in the second quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock valued at $38,000 after purchasing an additional 5,381 shares during the last quarter. Bank of Montreal Can increased its holdings in Casa Systems by 590,300.0% in the second quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock valued at $38,000 after purchasing an additional 5,903 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Casa Systems in the second quarter valued at about $63,000. Finally, Menta Capital LLC bought a new stake in Casa Systems in the second quarter valued at about $66,000. 67.96% of the stock is currently owned by institutional investors and hedge funds.

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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