Mimecast Limited (NASDAQ:MIME) Expected to Announce Earnings of $0.30 Per Share

Equities analysts expect Mimecast Limited (NASDAQ:MIME) to announce earnings per share (EPS) of $0.30 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Mimecast’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.28. Mimecast posted earnings per share of $0.22 in the same quarter last year, which suggests a positive year over year growth rate of 36.4%. The firm is expected to issue its next earnings report before the market opens on Tuesday, August 3rd.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.30. For the next year, analysts expect that the business will report earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.48. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Mimecast.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Tuesday, May 11th. The technology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Mimecast had a net margin of 5.93% and a return on equity of 10.01%. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $131.19 million. During the same period in the prior year, the company posted $0.15 earnings per share. Mimecast’s revenue for the quarter was up 17.3% compared to the same quarter last year.

A number of research analysts have recently issued reports on MIME shares. Monness Crespi & Hardt lifted their price objective on shares of Mimecast from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 12th. Northland Securities raised their price target on shares of Mimecast from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 12th. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Wednesday, July 14th. Stephens lifted their target price on shares of Mimecast from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 12th. Finally, Needham & Company LLC boosted their price objective on shares of Mimecast from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.73.

NASDAQ:MIME traded up $0.72 during trading hours on Thursday, reaching $56.76. The company had a trading volume of 13,329 shares, compared to its average volume of 427,716. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 125.49, a price-to-earnings-growth ratio of 2.50 and a beta of 1.30. The stock has a 50-day moving average price of $51.99. Mimecast has a twelve month low of $37.03 and a twelve month high of $59.48.

In other news, insider John J. Walsh, Jr. sold 35,000 shares of the business’s stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $46.60, for a total transaction of $1,631,000.00. Following the sale, the insider now owns 31,642 shares in the company, valued at $1,474,517.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Bauer sold 7,500 shares of the business’s stock in a transaction dated Wednesday, July 7th. The stock was sold at an average price of $54.57, for a total value of $409,275.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,381 shares of company stock valued at $13,030,667. 9.50% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Mimecast by 11.2% in the 1st quarter. BlackRock Inc. now owns 5,105,082 shares of the technology company’s stock valued at $205,276,000 after purchasing an additional 513,322 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in Mimecast by 8.1% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,080,927 shares of the technology company’s stock valued at $83,674,000 after buying an additional 156,369 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Mimecast by 53.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,740,265 shares of the technology company’s stock worth $69,976,000 after acquiring an additional 606,886 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Mimecast by 39.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,347,860 shares of the technology company’s stock worth $54,197,000 after acquiring an additional 383,388 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Mimecast by 7.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,345,281 shares of the technology company’s stock valued at $54,094,000 after purchasing an additional 91,841 shares in the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.

About Mimecast

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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