Zacks: Analysts Anticipate Mimecast Ltd (NASDAQ:MIME) to Post $0.02 Earnings Per Share

Analysts predict that Mimecast Ltd (NASDAQ:MIME) will announce $0.02 earnings per share for the current quarter, Zacks reports. Eight analysts have made estimates for Mimecast’s earnings. The highest EPS estimate is $0.08 and the lowest is ($0.01). Mimecast reported earnings per share of ($0.02) during the same quarter last year, which indicates a positive year-over-year growth rate of 200%. The company is scheduled to report its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $0.05 per share for the current financial year, with EPS estimates ranging from ($0.04) to $0.19. For the next fiscal year, analysts forecast that the firm will report earnings of $0.19 per share, with EPS estimates ranging from $0.04 to $0.29. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Mimecast.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, August 5th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. Mimecast had a negative net margin of 2.09% and a negative return on equity of 2.63%. The company had revenue of $99.23 million during the quarter, compared to analyst estimates of $97.32 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis.

MIME has been the subject of a number of analyst reports. Rosenblatt Securities initiated coverage on shares of Mimecast in a research note on Wednesday, August 21st. They set a “buy” rating and a $57.00 price objective for the company. Wedbush reduced their price objective on shares of Mimecast from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. BidaskClub lowered shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. ValuEngine lowered shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Cowen initiated coverage on shares of Mimecast in a research note on Thursday, May 23rd. They set an “outperform” rating and a $60.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.56.

In other news, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $38.55, for a total value of $424,050.00. Following the transaction, the chief operating officer now owns 12,251 shares in the company, valued at approximately $472,276.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Neil Murray sold 235,000 shares of the company’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $45.98, for a total value of $10,805,300.00. Following the completion of the transaction, the director now owns 2,139,188 shares in the company, valued at approximately $98,359,864.24. The disclosure for this sale can be found here. Insiders sold a total of 633,882 shares of company stock worth $28,287,508 in the last quarter. 11.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of MIME. Comerica Bank acquired a new position in Mimecast in the first quarter worth approximately $797,000. First Mercantile Trust Co. increased its holdings in Mimecast by 223.4% in the first quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after buying an additional 715 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Mimecast in the first quarter worth approximately $474,000. Parametrica Management Ltd acquired a new position in Mimecast in the first quarter worth approximately $287,000. Finally, Spark Investment Management LLC increased its holdings in Mimecast by 18.9% in the first quarter. Spark Investment Management LLC now owns 216,700 shares of the technology company’s stock worth $10,260,000 after buying an additional 34,500 shares during the last quarter. Institutional investors own 71.56% of the company’s stock.

MIME stock opened at $38.77 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.49. Mimecast has a one year low of $29.67 and a one year high of $54.57. The firm has a 50-day moving average of $43.58 and a two-hundred day moving average of $46.46.

Mimecast Company Profile

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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