Mimecast Ltd (MIME) Expected to Post Earnings of $0.03 Per Share

Brokerages predict that Mimecast Ltd (NASDAQ:MIME) will report $0.03 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Mimecast’s earnings. The highest EPS estimate is $0.05 and the lowest is $0.01. The business is expected to announce its next earnings report on Wednesday, November 14th.

On average, analysts expect that Mimecast will report full-year earnings of $0.21 per share for the current year, with EPS estimates ranging from $0.15 to $0.28. For the next fiscal year, analysts anticipate that the company will post earnings of $0.43 per share, with EPS estimates ranging from $0.29 to $0.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Mimecast.

Mimecast (NASDAQ:MIME) last posted its earnings results on Thursday, August 9th. The technology company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $78.40 million during the quarter, compared to analyst estimates of $76.71 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. Mimecast’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share.

A number of analysts have weighed in on MIME shares. Goldman Sachs Group upgraded Mimecast from a “neutral” rating to a “buy” rating in a report on Wednesday, June 20th. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, July 11th. BMO Capital Markets decreased their price objective on Mimecast from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. increased their price objective on Mimecast from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $45.08.

Mimecast stock opened at $34.50 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -181.58 and a beta of 0.21. Mimecast has a twelve month low of $26.50 and a twelve month high of $46.87.

In other news, Director Hagi Schwartz sold 2,170 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $39.83, for a total transaction of $86,431.10. Following the completion of the sale, the director now owns 2,082 shares in the company, valued at approximately $82,926.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Peter Andrew James Campbell sold 30,000 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $42.09, for a total value of $1,262,700.00. Following the sale, the chief financial officer now owns 250,000 shares of the company’s stock, valued at approximately $10,522,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 305,726 shares of company stock valued at $12,339,835. Company insiders own 29.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. United Services Automobile Association raised its stake in Mimecast by 39.8% in the 2nd quarter. United Services Automobile Association now owns 53,740 shares of the technology company’s stock worth $2,215,000 after acquiring an additional 15,300 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in Mimecast in the 2nd quarter worth $238,000. Verition Fund Management LLC purchased a new position in Mimecast in the 2nd quarter worth $240,000. California Public Employees Retirement System raised its stake in Mimecast by 32.1% in the 2nd quarter. California Public Employees Retirement System now owns 35,058 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 8,529 shares during the last quarter. Finally, Putnam Investments LLC purchased a new position in Mimecast in the 2nd quarter worth $1,496,000. Institutional investors own 68.04% of the company’s stock.

About Mimecast

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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