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

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

CAMP stock opened at $11.74 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.40 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $10.34 and its 200 day moving average is $11.61. The stock has a market cap of $370.60 million, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.97. CalAmp has a 1-year low of $9.35 and a 1-year high of $24.37.

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

In related news, Director Larry J. Wolfe acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were bought at an average cost of $11.33 per share, for a total transaction of $566,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

CalAmp Company Profile

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.

See Also: Diluted Earnings Per Share

Earnings History for CalAmp (NASDAQ:CAMP)

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