MiX Telematics (NYSE:MIXT) issued its quarterly earnings results on Thursday. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19, Morningstar.com reports. MiX Telematics had a net margin of 12.47% and a return on equity of 15.37%. The business had revenue of $521.70 million for the quarter, compared to analyst estimates of $513.93 million. During the same quarter in the prior year, the business posted $0.08 EPS. MiX Telematics’s revenue for the quarter was up 14.2% compared to the same quarter last year. MiX Telematics updated its FY 2020 guidance to $0.79-0.88 EPS and its FY20 guidance to $0.451-0.502 EPS.
MiX Telematics stock traded up $0.23 during mid-day trading on Friday, reaching $14.10. 283,764 shares of the company traded hands, compared to its average volume of 69,283. MiX Telematics has a fifty-two week low of $13.01 and a fifty-two week high of $20.07. The firm has a market capitalization of $313.14 million, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.67 and a beta of 0.74. The company has a fifty day moving average price of $15.38.
MIXT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of MiX Telematics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. ValuEngine lowered shares of MiX Telematics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th.
A number of institutional investors have recently modified their holdings of MIXT. Acadian Asset Management LLC increased its stake in shares of MiX Telematics by 11.9% in the first quarter. Acadian Asset Management LLC now owns 903,596 shares of the technology company’s stock worth $15,066,000 after acquiring an additional 95,981 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of MiX Telematics by 17.9% in the first quarter. Rice Hall James & Associates LLC now owns 605,023 shares of the technology company’s stock worth $10,086,000 after acquiring an additional 91,778 shares during the period. Cortina Asset Management LLC increased its stake in shares of MiX Telematics by 105.3% in the second quarter. Cortina Asset Management LLC now owns 326,846 shares of the technology company’s stock worth $4,912,000 after acquiring an additional 167,635 shares during the period. Millennium Management LLC increased its stake in shares of MiX Telematics by 78.2% in the fourth quarter. Millennium Management LLC now owns 230,023 shares of the technology company’s stock worth $3,600,000 after acquiring an additional 100,932 shares during the period. Finally, Quantum Capital Management increased its stake in shares of MiX Telematics by 0.7% in the first quarter. Quantum Capital Management now owns 207,184 shares of the technology company’s stock worth $3,454,000 after acquiring an additional 1,408 shares during the period. Institutional investors and hedge funds own 39.71% of the company’s stock.
MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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