Zacks: Brokerages Anticipate Mimecast Ltd (NASDAQ:MIME) Will Post Earnings of $0.17 Per Share

Wall Street brokerages expect Mimecast Ltd (NASDAQ:MIME) to announce $0.17 earnings per share for the current quarter, Zacks reports. Eight analysts have made estimates for Mimecast’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.19. Mimecast reported earnings of $0.08 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 112.5%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, August 3rd.

On average, analysts expect that Mimecast will report full-year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.54 to $0.73. For the next financial year, analysts forecast that the firm will report earnings of $0.84 per share, with EPS estimates ranging from $0.73 to $0.95. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Mimecast.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, May 11th. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Mimecast had a positive return on equity of 0.61% and a negative net margin of 0.52%. The firm had revenue of $114.20 million during the quarter, compared to analysts’ expectations of $112.39 million. During the same quarter last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 24.1% compared to the same quarter last year.

A number of analysts recently commented on the company. Wedbush lifted their price target on Mimecast from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Zacks Investment Research upgraded Mimecast from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Monness Crespi & Hardt restated a “buy” rating and issued a $50.00 target price on shares of Mimecast in a research note on Tuesday, July 28th. Royal Bank of Canada restated a “buy” rating on shares of Mimecast in a research note on Tuesday, July 28th. Finally, BMO Capital Markets decreased their price objective on Mimecast from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $51.65.

In other news, VP John J. Walsh, Jr. sold 5,814 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $45.91, for a total value of $266,920.74. Following the completion of the sale, the vice president now owns 9,511 shares of the company’s stock, valued at approximately $436,650.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Neil Murray sold 235,000 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $43.41, for a total value of $10,201,350.00. Following the completion of the sale, the director now directly owns 1,451,665 shares of the company’s stock, valued at approximately $63,016,777.65. The disclosure for this sale can be found here. In the last three months, insiders sold 406,400 shares of company stock valued at $17,462,713. 11.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bainco International Investors bought a new position in Mimecast during the 1st quarter valued at approximately $28,000. Advisor Group Holdings Inc. bought a new position in Mimecast during the 1st quarter valued at approximately $35,000. First Mercantile Trust Co. raised its position in Mimecast by 31.0% during the 1st quarter. First Mercantile Trust Co. now owns 1,193 shares of the technology company’s stock valued at $42,000 after purchasing an additional 282 shares during the last quarter. Marshall Wace LLP bought a new position in Mimecast during the 1st quarter valued at approximately $49,000. Finally, State of Tennessee Treasury Department bought a new position in Mimecast during the 1st quarter valued at approximately $82,000. 79.10% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:MIME traded up $0.09 during mid-day trading on Friday, hitting $46.93. 1,400,951 shares of the company traded hands, compared to its average volume of 628,916. The stock has a market cap of $2.97 billion, a P/E ratio of -1,173.25, a P/E/G ratio of 29.13 and a beta of 1.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.37. Mimecast has a 12-month low of $25.14 and a 12-month high of $54.40. The stock has a 50-day moving average price of $42.86 and a two-hundred day moving average price of $41.36.

Mimecast Company Profile

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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