CalAmp Corp. (CAMP) Expected to Announce Quarterly Sales of $93.69 Million

Analysts expect CalAmp Corp. (NASDAQ:CAMP) to report sales of $93.69 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for CalAmp’s earnings, with estimates ranging from $93.20 million to $94.20 million. CalAmp reported sales of $86.13 million in the same quarter last year, which indicates a positive year over year growth rate of 8.8%. The company is expected to report its next earnings report on Tuesday, April 17th.

According to Zacks, analysts expect that CalAmp will report full-year sales of $93.69 million for the current year, with estimates ranging from $362.80 million to $365.70 million. For the next financial year, analysts expect that the firm will report sales of $391.01 million per share, with estimates ranging from $385.54 million to $395.62 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CalAmp.

CalAmp (NASDAQ:CAMP) last announced its quarterly earnings results on Thursday, December 21st. The Wireless communications provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The company had revenue of $93.67 million during the quarter, compared to analyst estimates of $91.10 million. CalAmp had a return on equity of 19.20% and a net margin of 5.00%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share.

CAMP has been the subject of several research analyst reports. ValuEngine lowered CalAmp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. B. Riley restated a “buy” rating and set a $28.00 price target on shares of CalAmp in a research note on Tuesday, December 19th. Canaccord Genuity restated a “buy” rating and set a $27.00 price target on shares of CalAmp in a research note on Thursday, December 21st. Zacks Investment Research lowered CalAmp from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. Finally, BidaskClub upgraded CalAmp from a “hold” rating to a “buy” rating in a research note on Saturday, January 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $26.44.

Shares of CalAmp stock traded down $0.62 during trading hours on Friday, reaching $22.69. The company’s stock had a trading volume of 378,756 shares, compared to its average volume of 328,771. The firm has a market capitalization of $846.44, a price-to-earnings ratio of 46.31 and a beta of 1.70. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.76 and a quick ratio of 2.36. CalAmp has a 12 month low of $15.64 and a 12 month high of $25.45.

In other news, CEO Michael J. Burdiek sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $24.35, for a total value of $97,400.00. Following the completion of the sale, the chief executive officer now owns 487,434 shares of the company’s stock, valued at $11,869,017.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Garo Sarkis Sarkissian sold 3,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the completion of the sale, the senior vice president now directly owns 195,289 shares of the company’s stock, valued at approximately $4,296,358. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $699,645 in the last ninety days. Company insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. LS Investment Advisors LLC boosted its holdings in CalAmp by 380.1% in the fourth quarter. LS Investment Advisors LLC now owns 5,776 shares of the Wireless communications provider’s stock valued at $124,000 after purchasing an additional 4,573 shares during the last quarter. FDx Advisors Inc. purchased a new position in CalAmp in the third quarter valued at about $214,000. Raymond James & Associates purchased a new position in CalAmp in the fourth quarter valued at about $214,000. Teacher Retirement System of Texas purchased a new position in CalAmp in the fourth quarter valued at about $259,000. Finally, Paloma Partners Management Co purchased a new position in CalAmp in the fourth quarter valued at about $292,000. 71.57% of the stock is owned by hedge funds and other institutional investors.

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About CalAmp

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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