Zacks Investment Research upgraded shares of Mix Telematics (NYSE:MIXT) from a hold rating to a buy rating in a report released on Friday, March 16th. They currently have $17.00 price objective on the technology company’s stock.
According to Zacks, “MiX Telematics Limited provides fleet and mobile asset management solutions. It offers vehicle tracking services for the consumer and commercial vehicle market worldwide. Mix’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency and security. The Company’s products includes Trailer Tracking, MiX Rovi, Beam-e, Matrix MX3, Matrix MX2, Matrix MX1, FM Tracer (FM3316i), FM Protector/MiX 3000, FM-Web, MiX Insight Analyser, Matrix Internet Tracking, MiX DriveTime, MiX Mobile, MiX Track, FM Wireless Kit, FM Voice Kit and FM Sat Comms. MiX Telematics Limited is based in Midrand, South Africa. “
Several other equities research analysts have also weighed in on the company. ValuEngine upgraded Mix Telematics from a hold rating to a buy rating in a research note on Thursday, March 1st. Canaccord Genuity reiterated a buy rating and issued a $20.00 price objective on shares of Mix Telematics in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Mix Telematics currently has a consensus rating of Buy and a consensus price target of $19.00.
Shares of NYSE MIXT traded up $0.20 during trading hours on Friday, hitting $15.70. 108,911 shares of the company’s stock were exchanged, compared to its average volume of 114,747. The stock has a market capitalization of $348.58, a PE ratio of 36.05, a P/E/G ratio of 1.69 and a beta of 0.43. Mix Telematics has a 1-year low of $5.59 and a 1-year high of $16.32.
Mix Telematics (NYSE:MIXT) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Mix Telematics had a return on equity of 9.14% and a net margin of 9.07%. The firm had revenue of $442.00 million during the quarter, compared to analysts’ expectations of $427.11 million. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. sell-side analysts predict that Mix Telematics will post 0.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.052 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Mix Telematics’s previous quarterly dividend of $0.04. Mix Telematics’s dividend payout ratio is 51.61%.
Several hedge funds have recently bought and sold shares of MIXT. Disciplined Growth Investors Inc. MN raised its stake in Mix Telematics by 557.3% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 818,867 shares of the technology company’s stock worth $10,449,000 after buying an additional 694,278 shares during the period. Millennium Management LLC raised its stake 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 buying an additional 27,121 shares during the period. GCA Investment Management LLC raised its stake in Mix Telematics by 36.0% during the 4th quarter. GCA Investment Management LLC now owns 706,845 shares of the technology company’s stock worth $9,019,000 after buying an additional 187,040 shares during the period. Renaissance Technologies LLC raised its stake in Mix Telematics by 7.9% during the 4th quarter. Renaissance Technologies LLC now owns 826,800 shares of the technology company’s stock worth $10,550,000 after buying an additional 60,200 shares during the period. Finally, Granite Investment Partners LLC acquired a new stake in Mix Telematics during the 4th quarter worth $807,000. 31.66% of the stock is currently owned by institutional investors.
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About Mix Telematics
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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