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CalAmp (CAMP) Surges 21.9%: Is This an Indication of Further Gains?

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CalAmp CAMP shares ended the last trading session 21.9% higher at $13.46. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.6% gain over the past four weeks.

The increase in share price was driven by CalAmp’s impressive fourth-quarter fiscal 2021 results. The company reported earnings of 14 cents per share that beat the Zacks Consensus Estimate by 180%. Moreover, revenues increased 2.5% year over year $82 million.

Price and Consensus

Price Consensus Chart for CAMP
Price Consensus Chart for CAMP

This wireless communications company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $78.33 million, down 2.4% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For CalAmp, the consensus EPS estimate for the quarter has been revised 35% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CAMP going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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