Equities analysts expect that Casa Systems Inc (NASDAQ:CASA) will report $90.27 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Casa Systems’ earnings, with estimates ranging from $88.00 million to $94.20 million. The business is scheduled to announce its next quarterly earnings results on Thursday, August 9th.
According to Zacks, analysts expect that Casa Systems will report full-year sales of $389.50 million for the current fiscal year, with estimates ranging from $383.00 million to $401.00 million. For the next financial year, analysts anticipate that the firm will report sales of $456.99 million per share, with estimates ranging from $431.77 million to $480.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Casa Systems.
Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Thursday, May 10th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). The business had revenue of $89.10 million for the quarter, compared to the consensus estimate of $88.50 million.
Several research analysts have commented on the stock. Northland Securities set a $25.00 price objective on shares of Casa Systems and gave the stock a “buy” rating in a research note on Thursday, July 12th. Loop Capital assumed coverage on shares of Casa Systems in a research note on Wednesday, July 25th. They set a “hold” rating and a $16.00 price objective for the company. Morgan Stanley raised shares of Casa Systems from an “equal weight” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Tuesday, July 10th. Zacks Investment Research lowered shares of Casa Systems from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Casa Systems from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $25.00.
NASDAQ CASA traded down $0.20 on Friday, hitting $15.62. 493,189 shares of the stock were exchanged, compared to its average volume of 520,400. The company has a quick ratio of 4.93, a current ratio of 5.29 and a debt-to-equity ratio of 4.11. The firm has a market capitalization of $1.30 billion and a price-to-earnings ratio of 19.77. Casa Systems has a 52-week low of $13.25 and a 52-week high of $34.21.
Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund purchased a new stake in shares of Casa Systems during the first quarter valued at $111,000. American International Group Inc. purchased a new stake in shares of Casa Systems during the first quarter valued at $131,000. Columbia Partners L L C Investment Management purchased a new stake in shares of Casa Systems during the second quarter valued at $163,000. Rhumbline Advisers purchased a new stake in shares of Casa Systems during the second quarter valued at $213,000. Finally, NumerixS Investment Technologies Inc boosted its stake in shares of Casa Systems by 3,250.0% during the second quarter. NumerixS Investment Technologies Inc now owns 13,400 shares of the company’s stock valued at $215,000 after purchasing an additional 13,000 shares during the period. 49.44% of the stock is owned by institutional investors.
Casa Systems Company Profile
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 software-centric infrastructure 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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