Brokerages forecast that MiX Telematics Limited (NYSE:MIXT) will announce sales of $29.15 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for MiX Telematics Limited’s earnings, with estimates ranging from $27.62 million to $30.70 million. MiX Telematics Limited reported sales of $26.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that MiX Telematics Limited will report full year sales of $29.15 million for the current financial year, with estimates ranging from $115.43 million to $124.41 million. For the next fiscal year, analysts forecast that the company will post sales of $128.51 million per share, with estimates ranging from $124.02 million to $134.76 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover MiX Telematics Limited.
MiX Telematics Limited (NYSE:MIXT) last released its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 8.56%. The business had revenue of $31.08 million for the quarter, compared to the consensus estimate of $31.22 million.
A number of analysts have commented on the company. Zacks Investment Research raised MiX Telematics Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine cut MiX Telematics Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price target on shares of MiX Telematics Limited in a research report on Thursday, August 3rd. Finally, TheStreet raised MiX Telematics Limited from a “c+” rating to a “b-” rating in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.88.
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Shares of MiX Telematics Limited (MIXT) opened at 9.30 on Wednesday. MiX Telematics Limited has a 12-month low of $5.59 and a 12-month high of $9.79. The company has a market capitalization of $207.75 million, a P/E ratio of 23.25 and a beta of 0.81. The company has a 50 day moving average of $9.16 and a 200-day moving average of $7.51.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 25th were paid a dividend of $0.036 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from MiX Telematics Limited’s previous quarterly dividend of $0.01. MiX Telematics Limited’s dividend payout ratio (DPR) is presently 30.77%.
MiX Telematics Limited declared that its board has authorized a share buyback plan on Thursday, May 25th that authorizes the company to buyback $20.10 million in shares. This buyback authorization authorizes the technology company to buy up to 12.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL raised its stake in shares of MiX Telematics Limited by 0.6% during the 1st quarter. Blair William & Co. IL now owns 56,478 shares of the technology company’s stock valued at $403,000 after buying an additional 340 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of MiX Telematics Limited by 105.6% during the 1st quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock valued at $123,000 after buying an additional 10,015 shares during the last quarter. GCA Investment Management LLC purchased a new position in shares of MiX Telematics Limited during the 2nd quarter valued at about $521,000. State of Wisconsin Investment Board purchased a new position in shares of MiX Telematics Limited during the 1st quarter valued at about $225,000. Finally, Royce & Associates LP raised its stake in shares of MiX Telematics Limited by 2,095.6% during the 2nd quarter. Royce & Associates LP now owns 57,985 shares of the technology company’s stock valued at $457,000 after buying an additional 55,344 shares during the last quarter. Institutional investors and hedge funds own 17.86% of the company’s stock.
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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