CalAmp Corp. (NASDAQ:CAMP) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.24-0.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.32. The company issued revenue guidance of $81-87 million, compared to the consensus revenue estimate of $95.01 million.
Shares of CalAmp Corp. (NASDAQ:CAMP) opened at 16.41 on Friday. CalAmp Corp. has a 52-week low of $13.01 and a 52-week high of $21.35. The company’s 50-day moving average is $15.25 and its 200 day moving average is $15.39. The company has a market cap of $602.23 million, a PE ratio of 58.82 and a beta of 1.10.
CalAmp Corp. (NASDAQ:CAMP) last released its quarterly earnings results on Thursday, September 29th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. CalAmp Corp. had a return on equity of 21.28% and a net margin of 3.34%. The business earned $90.50 million during the quarter, compared to analyst estimates of $92.26 million. During the same period in the prior year, the firm posted $0.27 EPS. CalAmp Corp.’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, analysts anticipate that CalAmp Corp. will post $1.23 EPS for the current year.
Several brokerages have recently issued reports on CAMP. B. Riley reaffirmed a buy rating and set a $29.00 target price on shares of CalAmp Corp. in a research report on Monday. First Analysis decreased their target price on CalAmp Corp. from $21.00 to $19.00 and set an overweight rating for the company in a research report on Monday, August 15th. Canaccord Genuity reaffirmed a buy rating and set a $25.00 target price on shares of CalAmp Corp. in a research report on Thursday, August 11th. Craig Hallum reaffirmed a buy rating and set a $20.00 target price (down from $21.00) on shares of CalAmp Corp. in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised CalAmp Corp. from a sell rating to a hold rating in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CalAmp Corp. presently has an average rating of Buy and a consensus price target of $22.67.
In other CalAmp Corp. news, VP Richard K. Vitelle sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the vice president now owns 304,409 shares in the company, valued at approximately $4,566,135. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of CalAmp Corp. by 2.6% in the second quarter. BlackRock Fund Advisors now owns 2,399,327 shares of the company’s stock valued at $35,534,000 after buying an additional 60,204 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CalAmp Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,699,533 shares of the company’s stock valued at $25,170,000 after buying an additional 50,827 shares in the last quarter. Aristotle Capital Boston LLC increased its position in shares of CalAmp Corp. by 308.9% in the second quarter. Aristotle Capital Boston LLC now owns 175,626 shares of the company’s stock valued at $2,601,000 after buying an additional 132,680 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of CalAmp Corp. by 7.3% in the second quarter. BlackRock Investment Management LLC now owns 156,707 shares of the company’s stock valued at $2,321,000 after buying an additional 10,623 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its position in shares of CalAmp Corp. by 480.0% in the second quarter. A.R.T. Advisors LLC now owns 79,337 shares of the company’s stock valued at $1,174,000 after buying an additional 65,659 shares in the last quarter. Institutional investors and hedge funds own 65.21% of the company’s stock.
About CalAmp Corp.
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions for a range of applications to customers globally. The Company operates through two business segments: Wireless DataCom and Satellite. The Company’s Wireless DataCom segment offers solutions for mobile resource management (MRM) applications, the machine-to-machine (M2M) communications space and other markets that require connectivity anytime and anywhere.
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