Wall Street analysts forecast that Casa Systems Inc (NASDAQ:CASA) will report $0.15 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Casa Systems’ earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.17. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 7th.
According to Zacks, analysts expect that Casa Systems will report full year earnings of $0.85 per share for the current financial year, with EPS estimates ranging from $0.84 to $0.88. For the next fiscal year, analysts expect that the company will report earnings of $0.95 per share, with EPS estimates ranging from $0.80 to $1.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Casa Systems.
Casa Systems (NASDAQ:CASA) last issued its earnings results on Tuesday, August 14th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $68.70 million for the quarter, compared to analyst estimates of $90.64 million. Casa Systems’s revenue for the quarter was up 3.2% compared to the same quarter last year.
A number of analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of Casa Systems from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Casa Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Stifel Nicolaus began coverage on shares of Casa Systems in a research report on Tuesday, October 23rd. They set a “buy” rating and a $18.00 price target for the company. Loop Capital upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Friday, August 24th. Finally, Macquarie lowered shares of Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price target for the company. in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.75.
Shares of NASDAQ:CASA opened at $14.64 on Friday. The firm has a market cap of $1.26 billion and a price-to-earnings ratio of 18.53. Casa Systems has a 1-year low of $11.26 and a 1-year high of $34.21. The company has a debt-to-equity ratio of 2.74, a quick ratio of 5.13 and a current ratio of 5.54.
Several institutional investors have recently added to or reduced their stakes in CASA. BlackRock Inc. bought a new position in shares of Casa Systems during the first quarter worth about $42,491,000. Overbrook Management Corp grew its position in shares of Casa Systems by 898.8% during the second quarter. Overbrook Management Corp now owns 1,428,166 shares of the company’s stock worth $23,322,000 after acquiring an additional 1,285,176 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Casa Systems during the second quarter worth about $15,563,000. Gilder Gagnon Howe & Co. LLC grew its position in shares of Casa Systems by 2,712.2% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 634,207 shares of the company’s stock worth $10,357,000 after acquiring an additional 611,655 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Casa Systems during the second quarter worth about $8,329,000. Institutional investors and hedge funds own 61.25% of the company’s stock.
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 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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