Zacks: Analysts Expect Carbonite, Inc. (CARB) to Announce $0.29 Earnings Per Share

Wall Street brokerages expect Carbonite, Inc. (NASDAQ:CARB) to post earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Carbonite’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.28. Carbonite posted earnings per share of $0.12 in the same quarter last year, which would suggest a positive year-over-year growth rate of 141.7%. The company is expected to report its next earnings results on Thursday, February 8th.

On average, analysts expect that Carbonite will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $0.79. For the next year, analysts forecast that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.87 to $1.07. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Carbonite.

Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The firm had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share.

Several research analysts have weighed in on CARB shares. BidaskClub lowered Carbonite from a “buy” rating to a “hold” rating in a report on Thursday. JMP Securities started coverage on Carbonite in a report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.71.

Carbonite (CARB) traded down $0.25 during mid-day trading on Tuesday, reaching $25.75. The company’s stock had a trading volume of 138,308 shares, compared to its average volume of 151,862. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $719.64, a price-to-earnings ratio of -234.09, a PEG ratio of 2.06 and a beta of 0.37. Carbonite has a 52-week low of $15.90 and a 52-week high of $27.00.

In other news, SVP Paul S. Mellinger sold 1,940 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $25.80, for a total value of $50,052.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 6,008 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $22.31, for a total value of $134,038.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,716 shares of company stock worth $961,860. Corporate insiders own 12.20% of the company’s stock.

Several institutional investors have recently modified their holdings of CARB. Hood River Capital Management LLC lifted its holdings in shares of Carbonite by 132.3% in the second quarter. Hood River Capital Management LLC now owns 783,723 shares of the technology company’s stock valued at $17,085,000 after purchasing an additional 446,308 shares in the last quarter. Elk Creek Partners LLC bought a new stake in shares of Carbonite in the third quarter valued at about $7,856,000. AO Asset Management LLC bought a new stake in shares of Carbonite in the second quarter valued at about $5,720,000. Schroder Investment Management Group bought a new stake in shares of Carbonite in the third quarter valued at about $5,676,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Carbonite by 30.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,056,900 shares of the technology company’s stock valued at $23,041,000 after purchasing an additional 249,343 shares in the last quarter. Institutional investors own 94.21% of the company’s stock.

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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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