Equities research analysts expect Mix Telematics (NYSE:MIXT) to report sales of $36.00 million for the current quarter, Zacks reports. Three analysts have issued estimates for Mix Telematics’ earnings, with the highest sales estimate coming in at $36.47 million and the lowest estimate coming in at $35.08 million. Mix Telematics posted sales of $29.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, May 24th.
According to Zacks, analysts expect that Mix Telematics will report full year sales of $36.00 million for the current financial year, with estimates ranging from $136.94 million to $142.35 million. For the next year, analysts anticipate that the business will post sales of $150.89 million per share, with estimates ranging from $146.32 million to $153.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Mix Telematics.
Mix Telematics (NYSE:MIXT) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Mix Telematics had a net margin of 9.07% and a return on equity of 9.14%. The business had revenue of $442.00 million for the quarter, compared to analyst estimates of $427.11 million. Mix Telematics’s revenue was up 10.2% compared to the same quarter last year.
Several equities research analysts recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $20.00 price target on shares of Mix Telematics in a research note on Thursday, February 1st. ValuEngine upgraded shares of Mix Telematics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Mix Telematics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, March 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.00.
A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in Mix Telematics during the 3rd quarter worth $103,000. Royce & Associates LP grew its position in Mix Telematics by 19.8% during the 3rd quarter. Royce & Associates LP now owns 69,485 shares of the technology company’s stock worth $689,000 after purchasing an additional 11,500 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mix Telematics by 37.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 79,970 shares of the technology company’s stock worth $793,000 after purchasing an additional 21,677 shares during the last quarter. Millennium Management LLC grew its position in Mix Telematics by 91.7% during the 4th quarter. Millennium Management LLC now owns 56,690 shares of the technology company’s stock worth $723,000 after purchasing an additional 27,121 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Mix Telematics by 120.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,682 shares of the technology company’s stock worth $524,000 after purchasing an additional 28,838 shares during the last quarter. Hedge funds and other institutional investors own 31.66% of the company’s stock.
Shares of MIXT traded up $0.20 during midday trading on Wednesday, reaching $15.70. The stock had a trading volume of 108,911 shares, compared to its average volume of 114,747. Mix Telematics has a 1-year low of $5.59 and a 1-year high of $16.32. The firm has a market capitalization of $348.58, a price-to-earnings ratio of 36.05, a PEG ratio of 1.69 and a beta of 0.43.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.052 per share. This is a positive change from Mix Telematics’s previous quarterly dividend of $0.04. This represents a $0.21 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, February 22nd. Mix Telematics’s dividend payout ratio (DPR) is currently 51.61%.
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Mix Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model worldwide. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; and MiX Fleet Manager Essential for monitoring drivers and vehicles.
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