Casa Systems (NASDAQ:CASA) announced its quarterly earnings results on Wednesday. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.08, Briefing.com reports. The business had revenue of $71.50 million during the quarter, compared to the consensus estimate of $75.88 million. During the same period in the previous year, the business posted $0.31 EPS. Casa Systems’s revenue was down 24.1% compared to the same quarter last year. Casa Systems updated its FY18 guidance to $0.80-0.88 EPS.
Shares of Casa Systems stock traded up $0.23 during mid-day trading on Thursday, hitting $16.00. 820,682 shares of the stock were exchanged, compared to its average volume of 785,094. Casa Systems has a 12 month low of $11.26 and a 12 month high of $34.21. The company has a quick ratio of 5.13, a current ratio of 5.54 and a debt-to-equity ratio of 2.74. The stock has a market cap of $1.28 billion and a P/E ratio of 20.25.
Several equities analysts recently weighed in on the stock. Macquarie cut shares of Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 price target on the stock. in a research report on Wednesday, August 15th. Northland Securities set a $17.00 price target on shares of Casa Systems and gave the company a “buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research cut shares of Casa Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. Loop Capital dropped their target price on shares of Casa Systems to $12.00 and set a “positive” rating on the stock in a research report on Wednesday, August 15th. Finally, 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 research report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.75.
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.
Featured Article: Yield Curve
Receive News & Ratings for Casa Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casa Systems and related companies with MarketBeat.com's FREE daily email newsletter.