NEW YORK (TheStreet) -- Shares of CalAmp (CAMP) were falling 10.8% to $17.58 Wednesday after the wireless communications company guided below analysts' estimates for revenue in the fiscal fourth quarter.
CalAmp said it expects revenue of $66 million to $70 million for the fourth quarter, below analysts' estimates of $71.1 million for the quarter. The company expects earnings of 26 cents to 30 cents a share for the quarter, compared to analysts' estimates of 28 cents a share.
The company reported earnings of 25 cents a share for the third quarter, beating analysts' estimates of 23 cents a share. Revenue fell 0.5% year over year to $63.2 million for the quarter, compared to analysts' estimates of $63.26 million.
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TheStreet Ratings team rates CALAMP CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CALAMP CORP (CAMP) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: CAMP Ratings Report