$306.57 Million in Sales Expected for LogMeIn Inc (LOGM) This Quarter

Analysts forecast that LogMeIn Inc (NASDAQ:LOGM) will post sales of $306.57 million for the current quarter, Zacks reports. Seven analysts have issued estimates for LogMeIn’s earnings. The highest sales estimate is $306.90 million and the lowest is $306.33 million. LogMeIn posted sales of $276.04 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is expected to report its next quarterly earnings report on Thursday, February 21st.

According to Zacks, analysts expect that LogMeIn will report full-year sales of $1.20 billion for the current financial year. For the next financial year, analysts anticipate that the business will post sales of $1.26 billion, with estimates ranging from $1.25 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover LogMeIn.

LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $309.58 million during the quarter, compared to analyst estimates of $302.92 million. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%.

A number of equities research analysts have recently issued reports on the company. Piper Jaffray Companies lowered LogMeIn from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $95.00 in a research report on Friday, July 27th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $96.00 price target (down from $145.00) on shares of LogMeIn in a research report on Friday, July 27th. KeyCorp dropped their price target on LogMeIn from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. BidaskClub lowered LogMeIn from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $110.10.

Shares of LOGM stock traded up $0.62 during trading hours on Friday, reaching $87.64. The company had a trading volume of 480,258 shares, compared to its average volume of 713,602. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $4.30 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.10 and a beta of 1.06. LogMeIn has a 12-month low of $74.87 and a 12-month high of $134.80.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, November 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.37%. LogMeIn’s payout ratio is 35.82%.

In related news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $84.61, for a total value of $1,692,200.00. Following the completion of the transaction, the director now directly owns 636,966 shares in the company, valued at $53,893,693.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 60,000 shares of company stock valued at $5,058,800 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. grew its position in LogMeIn by 299.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,350 shares of the software maker’s stock worth $139,000 after acquiring an additional 1,012 shares during the period. Stone Ridge Asset Management LLC purchased a new position in LogMeIn in the third quarter worth approximately $213,000. We Are One Seven LLC purchased a new position in LogMeIn in the third quarter worth approximately $215,000. Global X Management Co LLC purchased a new position in LogMeIn in the second quarter worth approximately $216,000. Finally, Tower Research Capital LLC TRC grew its position in LogMeIn by 415.1% in the third quarter. Tower Research Capital LLC TRC now owns 2,421 shares of the software maker’s stock worth $216,000 after acquiring an additional 1,951 shares during the period. Institutional investors own 96.90% of the company’s stock.

LogMeIn Company Profile

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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