Wall Street analysts forecast that Carbonite Inc (NASDAQ:CARB) will report sales of $77.47 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Carbonite’s earnings. The lowest sales estimate is $77.30 million and the highest is $77.57 million. Carbonite reported sales of $64.03 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21%. The firm is expected to report its next earnings results on Monday, May 6th.
On average, analysts expect that Carbonite will report full-year sales of $493.93 million for the current fiscal year, with estimates ranging from $491.00 million to $495.50 million. For the next financial year, analysts forecast that the firm will post sales of $587.70 million, with estimates ranging from $560.00 million to $610.94 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Carbonite.
Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, February 7th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.16. Carbonite had a return on equity of 29.57% and a net margin of 2.54%. The company had revenue of $77.00 million for the quarter, compared to analyst estimates of $79.53 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year.
NASDAQ CARB traded down $0.61 during trading on Thursday, hitting $23.44. 241,702 shares of the company traded hands, compared to its average volume of 481,443. Carbonite has a 12 month low of $22.35 and a 12 month high of $43.63. The firm has a market cap of $831.17 million, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 0.95 and a beta of 0.78.
In related news, SVP Norman Guadagno sold 1,800 shares of Carbonite stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $28.16, for a total transaction of $50,688.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 2,224 shares of Carbonite stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $25.57, for a total value of $56,867.68. The disclosure for this sale can be found here. Insiders sold 99,883 shares of company stock worth $2,643,949 over the last quarter. 9.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CARB. Raymond James & Associates acquired a new stake in Carbonite during the second quarter worth about $267,000. Bank of New York Mellon Corp grew its position in Carbonite by 41.4% during the second quarter. Bank of New York Mellon Corp now owns 338,067 shares of the technology company’s stock worth $11,798,000 after buying an additional 99,018 shares in the last quarter. Northern Trust Corp grew its position in Carbonite by 5.0% during the second quarter. Northern Trust Corp now owns 352,548 shares of the technology company’s stock worth $12,304,000 after buying an additional 16,857 shares in the last quarter. United Services Automobile Association boosted its holdings in Carbonite by 8.0% during the second quarter. United Services Automobile Association now owns 44,802 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 3,300 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in Carbonite during the third quarter valued at approximately $285,000.
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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