$0.30 EPS Expected for Carbonite, Inc. (CARB) This Quarter

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.

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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.

About Carbonite

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.

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