Casa Systems Inc (NASDAQ:CASA) Expected to Announce Quarterly Sales of $92.30 Million

Brokerages expect Casa Systems Inc (NASDAQ:CASA) to report $92.30 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Casa Systems’ earnings. The lowest sales estimate is $88.70 million and the highest is $96.20 million. Casa Systems reported sales of $81.82 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The business is expected to announce its next earnings report on Thursday, October 29th.

On average, analysts expect that Casa Systems will report full year sales of $358.12 million for the current fiscal year, with estimates ranging from $346.40 million to $372.48 million. For the next year, analysts expect that the firm will report sales of $394.94 million, with estimates ranging from $368.30 million to $417.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Casa Systems.

Casa Systems (NASDAQ:CASA) last posted its earnings results on Thursday, July 30th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. Casa Systems had a negative net margin of 9.96% and a negative return on equity of 7.87%. The firm had revenue of $83.35 million during the quarter, compared to the consensus estimate of $79.50 million.

A number of brokerages have recently commented on CASA. Morgan Stanley lifted their price target on shares of Casa Systems from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Zacks Investment Research downgraded shares of Casa Systems from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Northland Securities reiterated a “buy” rating and set a $8.00 price target on shares of Casa Systems in a report on Friday, July 31st. Finally, BidaskClub upgraded shares of Casa Systems from a “strong sell” rating to a “sell” rating in a report on Monday, September 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Casa Systems currently has a consensus rating of “Hold” and an average target price of $5.75.

NASDAQ:CASA traded down $0.03 during mid-day trading on Friday, hitting $4.26. 558,581 shares of the company’s stock traded hands, compared to its average volume of 466,317. The company has a debt-to-equity ratio of 7.15, a quick ratio of 2.58 and a current ratio of 3.59. The firm’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $4.23. Casa Systems has a 1 year low of $1.85 and a 1 year high of $8.03. The company has a market cap of $354.16 million, a PE ratio of -9.68 and a beta of 0.99.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in shares of Casa Systems by 40.9% in the first quarter. Alliancebernstein L.P. now owns 4,837,539 shares of the company’s stock worth $16,931,000 after acquiring an additional 1,404,069 shares during the last quarter. BlackRock Inc. boosted its position in shares of Casa Systems by 2.3% in the first quarter. BlackRock Inc. now owns 2,129,765 shares of the company’s stock worth $7,455,000 after acquiring an additional 47,972 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Casa Systems by 1.5% in the second quarter. Peregrine Capital Management LLC now owns 1,291,534 shares of the company’s stock worth $5,373,000 after acquiring an additional 18,989 shares during the last quarter. Formula Growth Ltd. boosted its position in shares of Casa Systems by 20.0% in the second quarter. Formula Growth Ltd. now owns 1,200,000 shares of the company’s stock worth $4,992,000 after acquiring an additional 200,000 shares during the last quarter. Finally, State Street Corp lifted its position in Casa Systems by 3.3% during the first quarter. State Street Corp now owns 690,088 shares of the company’s stock valued at $2,415,000 after buying an additional 22,091 shares in the last quarter. 71.51% of the stock is currently owned by institutional investors and hedge funds.

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.

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