Equities research analysts expect Carbonite, Inc. (NASDAQ:CARB) to post $0.30 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Carbonite’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.28. Carbonite reported earnings of $0.12 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 150%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Carbonite will report full year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.79. For the next financial year, analysts anticipate that the firm will report earnings of $1.00 per share, with EPS estimates ranging from $0.87 to $1.05. Zacks’ EPS averages are an average based on a survey of research analysts that cover Carbonite.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The firm had revenue of $61.60 million during the quarter, compared to the consensus estimate of $61.49 million. During the same period last year, the business posted $0.14 EPS. Carbonite’s quarterly revenue was up 18.7% on a year-over-year basis.
Several equities analysts have weighed in on CARB shares. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $30.00 price target on shares of Carbonite in a research report on Thursday, September 21st. Rosenblatt Securities started coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 price target for the company. B. Riley reissued a “buy” rating and set a $26.00 price target on shares of Carbonite in a research report on Monday, August 7th. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, Barclays PLC reissued an “equal weight” rating and set a $27.00 price target (up previously from $26.00) on shares of Carbonite in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.71.
WARNING: “$0.30 EPS Expected for Carbonite, Inc. (CARB) This Quarter” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2017/11/11/0-30-eps-expected-for-carbonite-inc-carb-this-quarter.html.
In other news, insider Cassandra Hudson sold 1,563 shares of Carbonite stock in a transaction on Friday, September 29th. The stock was sold at an average price of $22.05, for a total value of $34,464.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Danielle Sheer sold 4,807 shares of Carbonite stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $22.31, for a total value of $107,244.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,937 shares of company stock valued at $626,011. Company insiders own 12.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Carbonite by 6.0% in the second quarter. Renaissance Technologies LLC now owns 2,317,700 shares of the technology company’s stock valued at $50,526,000 after purchasing an additional 131,300 shares during the period. Vanguard Group Inc. grew its position in shares of Carbonite by 14.8% in the second quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock valued at $36,757,000 after purchasing an additional 217,337 shares during the period. Russell Investments Group Ltd. grew its position in shares of Carbonite by 192.9% in the second quarter. Russell Investments Group Ltd. now owns 1,382,650 shares of the technology company’s stock valued at $30,143,000 after purchasing an additional 910,533 shares during the period. Crosslink Capital Inc. grew its position in shares of Carbonite by 7.2% in the second quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock valued at $28,623,000 after purchasing an additional 87,900 shares during the period. Finally, Pembroke Management LTD grew its position in shares of Carbonite by 2.4% in the second quarter. Pembroke Management LTD now owns 1,269,500 shares of the technology company’s stock valued at $27,675,000 after purchasing an additional 30,000 shares during the period. 96.85% of the stock is owned by institutional investors and hedge funds.
Carbonite (NASDAQ CARB) traded down $0.05 during trading on Monday, reaching $22.30. The company’s stock had a trading volume of 265,000 shares, compared to its average volume of 393,017. The company has a quick ratio of 1.21, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $624.62, a P/E ratio of 93.13, a price-to-earnings-growth ratio of 2.30 and a beta of 0.33. Carbonite has a one year low of $15.04 and a one year high of $27.00.
Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
Get a free copy of the Zacks research report on Carbonite (CARB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Carbonite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite Inc. and related companies with MarketBeat.com's FREE daily email newsletter.