Analysts Expect Casa Systems Inc (CASA) Will Post Quarterly Sales of $51.28 Million

Wall Street analysts expect that Casa Systems Inc (NASDAQ:CASA) will post $51.28 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Casa Systems’ earnings, with estimates ranging from $42.60 million to $65.00 million. Casa Systems reported sales of $68.72 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 25.4%. The business is scheduled to issue its next earnings results on Tuesday, August 13th.

On average, analysts expect that Casa Systems will report full-year sales of $243.10 million for the current year, with estimates ranging from $227.00 million to $265.00 million. For the next financial year, analysts expect that the business will post sales of $287.08 million, with estimates ranging from $270.60 million to $317.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Casa Systems.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.18). The business had revenue of $35.50 million during the quarter, compared to the consensus estimate of $55.83 million. Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The business’s revenue for the quarter was down 60.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS.

A number of brokerages have recently commented on CASA. ValuEngine raised shares of Casa Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Zacks Investment Research lowered shares of Casa Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. DA Davidson began coverage on shares of Casa Systems in a research report on Monday, March 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Raymond James lowered shares of Casa Systems from an “outperform” rating to a “market perform” rating in a research report on Friday, February 22nd. Finally, William Blair lowered shares of Casa Systems from an “outperform” rating to a “market perform” rating in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Casa Systems by 161.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,539,709 shares of the company’s stock valued at $37,461,000 after acquiring an additional 1,567,015 shares during the period. American Century Companies Inc. purchased a new stake in Casa Systems in the fourth quarter worth approximately $10,925,000. Elk Creek Partners LLC boosted its stake in Casa Systems by 59.7% in the first quarter. Elk Creek Partners LLC now owns 1,778,520 shares of the company’s stock worth $14,762,000 after buying an additional 664,521 shares in the last quarter. Morgan Stanley boosted its stake in Casa Systems by 1,038.1% in the third quarter. Morgan Stanley now owns 584,987 shares of the company’s stock worth $8,628,000 after buying an additional 533,585 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Casa Systems in the first quarter worth approximately $4,334,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CASA stock traded down $0.01 during trading on Friday, reaching $5.64. The company’s stock had a trading volume of 233,029 shares, compared to its average volume of 440,392. The company has a quick ratio of 4.23, a current ratio of 5.12 and a debt-to-equity ratio of 4.47. The firm has a market cap of $471.13 million, a PE ratio of 7.05 and a beta of 0.49. Casa Systems has a one year low of $5.46 and a one year high of $20.78.

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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