Casa Systems Inc (CASA) Expected to Announce Quarterly Sales of $65.93 Million
Analysts predict that Casa Systems Inc (NASDAQ:CASA) will post $65.93 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Casa Systems’ earnings. The lowest sales estimate is $65.70 million and the highest is $66.10 million. Casa Systems posted sales of $117.96 million in the same quarter last year, which indicates a negative year-over-year growth rate of 44.1%. The business is expected to report its next earnings results after the market closes on Tuesday, March 5th.
On average, analysts expect that Casa Systems will report full-year sales of $295.41 million for the current fiscal year, with estimates ranging from $295.00 million to $295.95 million. For the next year, analysts forecast that the business will report sales of $316.93 million, with estimates ranging from $295.60 million to $350.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Casa Systems.
Several equities analysts have recently commented on the company. Zacks Investment Research raised Casa Systems from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, November 14th. ValuEngine downgraded Casa Systems from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Needham & Company LLC started coverage on Casa Systems in a report on Sunday, December 9th. They issued a “buy” rating and a $15.08 price objective on the stock. Stifel Nicolaus downgraded Casa Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $18.00 to $14.00 in a report on Friday, January 18th. Finally, Morgan Stanley downgraded Casa Systems from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $18.00 to $11.00 in a report on Friday, January 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Casa Systems has a consensus rating of “Hold” and a consensus price target of $17.25.
NASDAQ CASA traded up $0.44 on Wednesday, reaching $11.77. 339,895 shares of the company were exchanged, compared to its average volume of 495,300. The firm has a market capitalization of $978.24 million, a P/E ratio of 14.90 and a beta of -0.38. The company has a debt-to-equity ratio of 3.43, a quick ratio of 4.61 and a current ratio of 5.09. Casa Systems has a fifty-two week low of $10.50 and a fifty-two week high of $34.21.
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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