Shares of MiX Telematics Limited (NYSE:MIXT) have earned an average recommendation of “Buy” from the six research firms that are presently covering the company. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.75.
MIXT has been the subject of a number of recent analyst reports. TheStreet raised MiX Telematics Limited from a “hold” rating to a “buy” rating in a report on Thursday, November 3rd. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of MiX Telematics Limited in a report on Thursday, January 12th. CIBC reaffirmed a “market perform” rating on shares of MiX Telematics Limited in a report on Thursday, January 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $10.50 price target on shares of MiX Telematics Limited in a report on Thursday, February 2nd. Finally, Zacks Investment Research cut MiX Telematics Limited from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 9th.
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MiX Telematics Limited (NYSE:MIXT) opened at 7.35 on Tuesday. MiX Telematics Limited has a 52-week low of $3.38 and a 52-week high of $8.14. The company’s 50-day moving average price is $7.08 and its 200 day moving average price is $6.20. The firm has a market capitalization of $165.65 million, a price-to-earnings ratio of 26.73 and a beta of 0.84.
MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.63. MiX Telematics Limited had a net margin of 6.83% and a return on equity of 6.08%. The business had revenue of $29.20 million for the quarter, compared to analyst estimates of $372.07 million. Equities analysts predict that MiX Telematics Limited will post $0.01 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Monday, February 27th. Stockholders of record on Friday, February 24th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, February 22nd. MiX Telematics Limited’s dividend payout ratio (DPR) is currently 35.71%.
Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in MiX Telematics Limited by 86.2% in the third quarter. Acadian Asset Management LLC now owns 100,362 shares of the company’s stock valued at $644,000 after buying an additional 46,463 shares during the period. Renaissance Technologies LLC boosted its stake in MiX Telematics Limited by 6.9% in the fourth quarter. Renaissance Technologies LLC now owns 353,800 shares of the company’s stock valued at $2,190,000 after buying an additional 22,900 shares during the period. Rice Hall James & Associates LLC boosted its stake in MiX Telematics Limited by 11.1% in the third quarter. Rice Hall James & Associates LLC now owns 345,189 shares of the company’s stock valued at $2,206,000 after buying an additional 34,460 shares during the period. Formula Growth Ltd. boosted its stake in MiX Telematics Limited by 11.8% in the third quarter. Formula Growth Ltd. now owns 377,591 shares of the company’s stock valued at $2,413,000 after buying an additional 40,000 shares during the period. Finally, Polar Capital LLP purchased a new stake in MiX Telematics Limited during the third quarter valued at approximately $2,800,000. 14.69% of the stock is owned by institutional investors.
About MiX Telematics Limited
MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.
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