Analysts Expect Casa Systems Inc (NASDAQ:CASA) Will Post Quarterly Sales of $89.77 Million

Brokerages expect that Casa Systems Inc (NASDAQ:CASA) will report sales of $89.77 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Casa Systems’ earnings, with the highest sales estimate coming in at $95.00 million and the lowest estimate coming in at $85.70 million. Casa Systems reported sales of $67.83 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.3%. The firm is expected to announce its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that Casa Systems will report full-year sales of $260.38 million for the current year, with estimates ranging from $255.10 million to $264.40 million. For the next fiscal year, analysts expect that the company will report sales of $366.65 million, with estimates ranging from $329.30 million to $401.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Casa Systems.

Casa Systems (NASDAQ:CASA) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). Casa Systems had a negative net margin of 3.22% and a positive return on equity of 0.01%. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $108.08 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis.

Several research firms have recently commented on CASA. ValuEngine upgraded Casa Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Northland Securities lowered Casa Systems from an “outperform” rating to a “market perform” rating and set a $7.00 price objective for the company. in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Casa Systems in a research note on Friday, November 1st. Raymond James lowered Casa Systems from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 30th. Finally, Barclays restated a “hold” rating and issued a $7.00 price objective on shares of Casa Systems in a research note on Sunday, November 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Casa Systems currently has an average rating of “Hold” and an average target price of $9.93.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

NASDAQ:CASA traded down $0.12 during mid-day trading on Thursday, reaching $3.53. 352,100 shares of the company’s stock traded hands, compared to its average volume of 389,089. The company has a debt-to-equity ratio of 4.20, a current ratio of 6.25 and a quick ratio of 5.02. The firm has a market capitalization of $329.45 million, a price-to-earnings ratio of 4.41 and a beta of 0.87. Casa Systems has a 12-month low of $3.47 and a 12-month high of $16.42. The company has a 50 day moving average price of $6.43 and a 200-day moving average price of $6.62.

Institutional investors have recently modified their holdings of the stock. Cutler Group LP boosted its holdings in Casa Systems by 3,864.0% in the 2nd quarter. Cutler Group LP now owns 3,964 shares of the company’s stock worth $25,000 after buying an additional 3,864 shares during the period. Quantamental Technologies LLC boosted its holdings in Casa Systems by 1,044.9% in the 2nd quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock worth $38,000 after buying an additional 5,381 shares during the period. Bank of Montreal Can boosted its holdings in Casa Systems by 590,300.0% in the 2nd quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock worth $38,000 after buying an additional 5,903 shares during the period. Marshall Wace North America L.P. bought a new position in Casa Systems in the 1st quarter worth $75,000. Finally, Russell Investments Group Ltd. bought a new position in Casa Systems in the 2nd quarter worth $63,000. 67.96% 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 solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

Recommended Story: What does earnings per share mean?

Get a free copy of the Zacks research report on Casa Systems (CASA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

*