Cantaloupe, Inc. (NASDAQ:CTLP) Expected to Announce Quarterly Sales of $46.19 Million

Brokerages predict that Cantaloupe, Inc. (NASDAQ:CTLP) will post $46.19 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Cantaloupe’s earnings. The lowest sales estimate is $44.21 million and the highest is $47.20 million. Cantaloupe posted sales of $36.88 million in the same quarter last year, which suggests a positive year over year growth rate of 25.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Cantaloupe will report full-year sales of $200.79 million for the current year, with estimates ranging from $200.14 million to $202.10 million. For the next year, analysts anticipate that the company will report sales of $225.13 million, with estimates ranging from $209.99 million to $235.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Cantaloupe.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings results on Wednesday, September 1st. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Cantaloupe had a negative return on equity of 6.99% and a negative net margin of 5.21%.

A number of research analysts have weighed in on CTLP shares. Barrington Research started coverage on Cantaloupe in a report on Friday, September 3rd. They set a “buy” rating and a $15.00 target price on the stock. Northland Securities upped their target price on Cantaloupe from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, June 15th. Lake Street Capital upped their target price on Cantaloupe from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. Finally, Zacks Investment Research downgraded Cantaloupe from a “hold” rating to a “sell” rating in a report on Friday, July 2nd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.00.

Shares of CTLP stock traded down $0.18 during midday trading on Tuesday, reaching $9.92. 667,000 shares of the stock were exchanged, compared to its average volume of 302,581. Cantaloupe has a 1 year low of $7.75 and a 1 year high of $12.99. The company’s 50 day moving average is $10.14 and its two-hundred day moving average is $10.88. The company has a current ratio of 2.00, a quick ratio of 1.92 and a debt-to-equity ratio of 0.09. The firm has a market cap of $706.88 million, a PE ratio of -70.85 and a beta of 2.12.

Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $30,000. Kistler Tiffany Companies LLC bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $32,000. JPMorgan Chase & Co. bought a new stake in shares of Cantaloupe in the 4th quarter worth approximately $40,000. Citigroup Inc. bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $46,000. Finally, Clearstead Advisors LLC bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $47,000. 72.28% of the stock is currently owned by hedge funds and other institutional investors.

About Cantaloupe

Cantaloupe, Inc engages in the provision of technology-enabled solutions and value-added services that facilitate electronic payment transactions. It offers Internet of Things (“IoT“) and machine-to-machine (“M2M“) services, which include the ability to remotely monitor, control, and report on the results of distributed assets containing the electronic payment solutions.

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Earnings History and Estimates for Cantaloupe (NASDAQ:CTLP)

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