Casa Systems Inc to Post Q3 2018 Earnings of $0.07 Per Share, William Blair Forecasts (CASA)

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Casa Systems Inc (NASDAQ:CASA) – William Blair cut their Q3 2018 earnings estimates for shares of Casa Systems in a research report issued on Wednesday, August 15th. William Blair analyst J. Ader now expects that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.22. William Blair also issued estimates for Casa Systems’ Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.67 EPS and FY2019 earnings at $0.70 EPS.

Casa Systems (NASDAQ:CASA) last released its earnings results on Tuesday, August 14th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $68.70 million during the quarter, compared to analysts’ expectations of $90.64 million. The business’s quarterly revenue was up 3.2% compared to the same quarter last year.

Other analysts have also issued research reports about the company. Macquarie lowered Casa Systems from an “outperform” rating to a “neutral” rating and set a $24.00 target price for the company. in a report on Wednesday, August 15th. Northland Securities set a $17.00 target price on Casa Systems and gave the company a “buy” rating in a report on Wednesday, August 15th. Loop Capital reduced their target price on Casa Systems to $12.00 and set a “positive” rating for the company in a report on Wednesday, August 15th. Morgan Stanley reduced their target price on Casa Systems from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Finally, Zacks Investment Research upgraded Casa Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.88.

CASA opened at $12.48 on Monday. The firm has a market capitalization of $1.29 billion and a PE ratio of 15.80. 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 4.93, a current ratio of 5.29 and a debt-to-equity ratio of 4.11.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in Casa Systems during the fourth quarter worth $583,000. Millennium Management LLC acquired a new position in Casa Systems during the fourth quarter worth $903,000. Wells Fargo & Company MN acquired a new position in Casa Systems during the first quarter worth $474,000. Alps Advisors Inc. acquired a new position in Casa Systems during the first quarter worth $470,000. Finally, Prudential Financial Inc. acquired a new position in Casa Systems during the first quarter worth $1,514,000. 49.67% of the stock is currently owned by institutional investors and hedge funds.

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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