Wall Street brokerages expect Carbonite, Inc. (NASDAQ:CARB) to report earnings per share of $0.21 for the current quarter, according to Zacks. Five analysts have made estimates for Carbonite’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.20. Carbonite posted earnings of $0.14 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The business is expected to announce its next earnings report on Thursday, November 2nd.

On average, analysts expect that Carbonite will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.78. For the next year, analysts expect that the firm will report earnings of $1.00 per share, with EPS estimates ranging from $0.95 to $1.05. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Carbonite.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $59.00 million during the quarter, compared to the consensus estimate of $59.97 million. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS.

A number of research firms have recently commented on CARB. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Carbonite in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $30.00 price objective on shares of Carbonite in a research note on Thursday, September 21st. Barclays PLC reissued an “equal weight” rating and set a $27.00 price objective (up previously from $26.00) on shares of Carbonite in a report on Friday, August 4th. TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a research note on Friday, August 4th. Finally, BidaskClub downgraded Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.88.

Carbonite (CARB) traded up 0.68% on Friday, reaching $22.15. The company had a trading volume of 124,796 shares. The stock’s 50-day moving average price is $20.38 and its 200-day moving average price is $20.70. The stock has a market capitalization of $615.75 million, a P/E ratio of 1054.76 and a beta of 0.27. Carbonite has a 12-month low of $14.10 and a 12-month high of $24.60.

In other news, VP Danielle Sheer sold 4,810 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $21.65, for a total value of $104,136.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anthony Folger sold 12,500 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $21.19, for a total transaction of $264,875.00. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock valued at $641,877 in the last three months. 12.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ardsley Advisory Partners purchased a new stake in Carbonite during the second quarter valued at about $3,266,000. J.P. Marvel Investment Advisors LLC lifted its stake in Carbonite by 30.1% during the second quarter. J.P. Marvel Investment Advisors LLC now owns 199,350 shares of the technology company’s stock worth $4,346,000 after purchasing an additional 46,090 shares during the last quarter. Crosslink Capital Inc. lifted its stake in Carbonite by 7.2% during the second quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock worth $28,623,000 after purchasing an additional 87,900 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Carbonite by 24.8% in the 2nd quarter. California State Teachers Retirement System now owns 43,755 shares of the technology company’s stock worth $954,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of Carbonite in the 2nd quarter worth about $362,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/02/brokerages-expect-carbonite-inc-carb-to-post-0-21-earnings-per-share.html.

Carbonite Company Profile

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

Get a free copy of the Zacks research report on Carbonite (CARB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Carbonite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite Inc. and related stocks with our FREE daily email newsletter.