CalAmp Corp. (NASDAQ: CAMP) – Equity researchers at Jefferies Financial Group dropped their estimates for third quarter 2023 earnings per share for CalAmp in a research report released to clients and investors on Tuesday, December 21. Jefferies Financial Group analyst G. Notter now expects the wireless communications provider to earn $ 0.01 per share for the quarter, down from its previous estimate of $ 0.05. Jefferies Financial Group also released estimates for CalAmp’s fourth quarter 2023 earnings at $ 0.08 per share. CalAmp (NASDAQ: CAMP) last released its results on Tuesday, December 21. The wireless communications provider announced ($ 0.08) EPS for the quarter, missing the consensus estimate of $ 0.08 ($ 0.16). CalAmp had a negative net margin of 8.90% and a negative return on equity of 1.52%. The company posted revenue of $ 68.78 million for the quarter, compared to analysts’ estimates of $ 77.56 million. During the same period of the previous year, the company achieved earnings per share of $ 0.07. The company’s revenue for the quarter was down 12.4% year-over-year.
Several other research firms also commented on CAMP. Zacks investment research downgraded CalAmp’s stock from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Canaccord Genuity lowered its target price on CalAmp shares from $ 15.00 to $ 14.00 and established a “buy” rating for the company in a research note Wednesday. Finally, Craig Hallum downgraded CalAmp’s shares from a “buy” rating to a “keep” rating and lowered their target price for the company from $ 14.00 to $ 10.00 in a research note. Wednesday.
CAMP stock opened at $ 7.61 on Friday. CalAmp has a 12-month low of $ 7.15 and a 12-month high of $ 14.51. The company has a market cap of $ 273.06 million, a PE ratio of -9.63, a P / E / G ratio of 11.24 and a beta of 2.47. The company has a 50-day simple moving average of $ 9.84 and a 200-day simple moving average of $ 11.08. The company has a debt to equity ratio of 2.06, a current ratio of 2.06, and a quick ratio of 1.89.
Large investors recently changed their holdings of stocks. Goldman Sachs Group Inc. increased its position in CalAmp shares by 10.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 269,428 shares of the wireless communications provider valued at $ 3,428,000 after acquiring an additional 25,719 shares in the last quarter. The Alaska State Department of Revenue increased its position in CalAmp by 7.3% in Q3. The Alaska State Department of Revenue now owns 26,152 shares of the wireless communications provider valued at $ 260,000 after purchasing an additional 1,770 shares in the last quarter. Connors Investor Services Inc. purchased a new stake in CalAmp in the second quarter valued at approximately $ 3,856,000. Trigran Investments Inc. increased its position in CalAmp by 30.6% in the 2nd quarter. Trigran Investments Inc. now owns 2,546,144 shares of the wireless communications provider valued at $ 32,387,000 after purchasing an additional 597,304 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in CalAmp by 10.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 139,386 shares of the wireless communications provider valued at $ 1,773,000 after purchasing an additional 12,741 shares in the last quarter. Institutional investors and hedge funds hold 75.16% of the company’s shares.
CalAmp Corp. engages in the provision of wireless access and computer technologies. It provides Internet of Things (IoT) enablement solutions for a wide range of mobile and landline applications serving multiple vertical markets around the world. It offers solutions for the management of mobile resources and applications for the broader IoT market, enabling customers to optimize their operations by effectively collecting, monitoring and reporting critical business data and information. desired from high-value remote and often mobile assets.
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