Analysts Expect MiX Telematics Ltd – (NYSE:MIXT) Will Post Earnings of $0.20 Per Share

Wall Street analysts predict that MiX Telematics Ltd – (NYSE:MIXT) will announce earnings of $0.20 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MiX Telematics’ earnings. The lowest EPS estimate is $0.19 and the highest is $0.21. MiX Telematics posted earnings of $0.18 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is expected to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that MiX Telematics will report full-year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.82 to $0.89. For the next fiscal year, analysts anticipate that the business will post earnings of $0.95 per share, with EPS estimates ranging from $0.89 to $0.98. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for MiX Telematics.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The business had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $513.93 million. MiX Telematics had a net margin of 12.47% and a return on equity of 15.23%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of MiX Telematics from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday. ValuEngine lowered shares of MiX Telematics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th.

Shares of MiX Telematics stock traded down $0.05 during trading on Friday, hitting $14.50. 3,000 shares of the stock were exchanged, compared to its average volume of 90,057. The company has a market cap of $322.44 million, a PE ratio of 19.33, a price-to-earnings-growth ratio of 0.67 and a beta of 0.74. The business’s 50-day simple moving average is $15.20. MiX Telematics has a 12-month low of $13.01 and a 12-month high of $20.07.

The business also recently declared a dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 23rd will be paid a dividend of $0.051 per share. This is a positive change from MiX Telematics’s previous dividend of $0.01. The ex-dividend date of this dividend is Thursday, August 22nd. MiX Telematics’s dividend payout ratio (DPR) is currently 28.00%.

A number of large investors have recently made changes to their positions in MIXT. Cortina Asset Management LLC increased its stake in MiX Telematics by 105.3% in the second quarter. Cortina Asset Management LLC now owns 326,846 shares of the technology company’s stock valued at $4,912,000 after purchasing an additional 167,635 shares during the period. CWM LLC acquired a new position in MiX Telematics in the second quarter valued at $2,397,000. Marshall Wace LLP increased its stake in MiX Telematics by 379.1% in the first quarter. Marshall Wace LLP now owns 162,955 shares of the technology company’s stock valued at $2,717,000 after purchasing an additional 128,941 shares during the period. Millennium Management LLC increased its stake in MiX Telematics by 78.2% in the fourth quarter. Millennium Management LLC now owns 230,023 shares of the technology company’s stock valued at $3,600,000 after purchasing an additional 100,932 shares during the period. Finally, Acadian Asset Management LLC increased its stake in MiX Telematics by 11.9% in the first quarter. Acadian Asset Management LLC now owns 903,596 shares of the technology company’s stock valued at $15,066,000 after purchasing an additional 95,981 shares during the period. Hedge funds and other institutional investors own 39.71% of the company’s stock.

About MiX Telematics

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

See Also: What are benefits of a growth and income fund?

Get a free copy of the Zacks research report on MiX Telematics (MIXT)

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

Earnings History and Estimates for MiX Telematics (NYSE:MIXT)

Receive News & Ratings for MiX Telematics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiX Telematics and related companies with MarketBeat.com's FREE daily email newsletter.