Zacks: Analysts Expect MiX Telematics Limited (MIXT) to Announce $0.09 Earnings Per Share
Equities research analysts expect MiX Telematics Limited (NYSE:MIXT) to announce earnings of $0.09 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MiX Telematics Limited’s earnings, with estimates ranging from $0.07 to $0.12. MiX Telematics Limited posted earnings per share of $0.07 in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that MiX Telematics Limited will report full year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.37 to $0.43. For the next year, analysts anticipate that the company will post earnings of $0.54 per share, with EPS estimates ranging from $0.45 to $0.72. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for MiX Telematics Limited.
MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. MiX Telematics Limited had a return on equity of 8.56% and a net margin of 7.88%. The firm had revenue of $31.08 million during the quarter, compared to the consensus estimate of $31.22 million.
MIXT has been the topic of several recent analyst reports. Zacks Investment Research raised MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Tuesday, May 30th. ValuEngine cut MiX Telematics Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. TheStreet raised MiX Telematics Limited from a “c+” rating to a “b-” rating in a report on Tuesday, July 11th. Finally, Canaccord Genuity reissued a “buy” rating and set a $12.00 target price on shares of MiX Telematics Limited in a report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $9.88.
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MiX Telematics Limited (NYSE:MIXT) traded down 1.21% during trading on Monday, reaching $9.00. The company had a trading volume of 34,956 shares. The firm has a market capitalization of $201.05 million, a P/E ratio of 22.50 and a beta of 0.81. MiX Telematics Limited has a 52-week low of $5.46 and a 52-week high of $9.79. The company has a 50-day moving average of $9.10 and a 200-day moving average of $7.47.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 25th were issued a $0.036 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.58%. This is a boost from MiX Telematics Limited’s previous quarterly dividend of $0.01. MiX Telematics Limited’s dividend payout ratio is currently 30.77%.
MiX Telematics Limited declared that its board has initiated a stock buyback plan on Thursday, May 25th that authorizes the company to repurchase $20.10 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of MIXT. Russell Investments Group Ltd. increased its holdings in shares of MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock valued at $123,000 after buying an additional 10,015 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock valued at $367,000 after buying an additional 1,715 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of MiX Telematics Limited in the first quarter valued at $225,000. Blair William & Co. IL increased its holdings in shares of MiX Telematics Limited by 0.6% in the first quarter. Blair William & Co. IL now owns 56,478 shares of the technology company’s stock valued at $403,000 after buying an additional 340 shares in the last quarter. Finally, Formula Growth Ltd. increased its holdings in shares of MiX Telematics Limited by 12.1% in the first quarter. Formula Growth Ltd. now owns 600,165 shares of the technology company’s stock valued at $3,781,000 after buying an additional 64,574 shares in the last quarter. 17.86% of the stock is currently owned by institutional investors.
MiX Telematics Limited Company Profile
MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.
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