Equities analysts expect Camden National Co. (NASDAQ:CAC) to announce $46.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Camden National's earnings, with estimates ranging from $46.01 million to $47.00 million. Camden National posted sales of $42.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to issue its next earnings results on Tuesday, November 3rd.
On average, analysts expect that Camden National will report full year sales of $182.84 million for the current financial year, with estimates ranging from $182.18 million to $183.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $171.50 million, with estimates ranging from $168.09 million to $174.90 million. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that cover Camden National.
Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $46.60 million during the quarter, compared to analysts' expectations of $43.96 million. Camden National had a net margin of 25.84% and a return on equity of 11.17%.
Several brokerages recently weighed in on CAC. Zacks Investment Research cut shares of Camden National from a "buy" rating to a "hold" rating in a research report on Thursday, July 30th. BidaskClub downgraded shares of Camden National from a "sell" rating to a "strong sell" rating in a report on Thursday, September 3rd. Finally, Raymond James reaffirmed a "hold" rating on shares of Camden National in a report on Wednesday, September 9th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Camden National has a consensus rating of "Hold" and a consensus target price of $42.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management raised its stake in shares of Camden National by 1.9% in the second quarter. LSV Asset Management now owns 367,260 shares of the financial services provider's stock valued at $12,685,000 after acquiring an additional 6,950 shares during the period. Geode Capital Management LLC raised its stake in shares of Camden National by 9.5% in the first quarter. Geode Capital Management LLC now owns 231,280 shares of the financial services provider's stock valued at $7,273,000 after acquiring an additional 20,121 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Camden National in the first quarter valued at $6,909,000. BRYN MAWR TRUST Co raised its stake in shares of Camden National by 0.6% in the first quarter. BRYN MAWR TRUST Co now owns 208,694 shares of the financial services provider's stock valued at $6,563,000 after acquiring an additional 1,309 shares during the period. Finally, Boston Trust Walden Corp raised its stake in shares of Camden National by 9.0% in the second quarter. Boston Trust Walden Corp now owns 203,830 shares of the financial services provider's stock valued at $7,041,000 after acquiring an additional 16,761 shares during the period. 66.78% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CAC opened at $30.29 on Wednesday. The company has a market cap of $466.70 million, a price-to-earnings ratio of 8.53 and a beta of 0.95. Camden National has a 1 year low of $25.74 and a 1 year high of $48.48. The stock's 50 day simple moving average is $32.66 and its two-hundred day simple moving average is $32.81. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.79.
About Camden National
Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.
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