Zacks: Analysts Anticipate Carbonite, Inc. (CARB) to Announce $0.29 EPS

Equities research analysts expect that Carbonite, Inc. (NASDAQ:CARB) will announce earnings of $0.29 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Carbonite’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.30. Carbonite posted earnings per share of $0.12 during the same quarter last year, which indicates a positive year over year growth rate of 141.7%. The firm is expected to issue its next quarterly earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Carbonite will report full year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $0.79. For the next fiscal year, analysts expect that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.87 to $1.07. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Carbonite.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. The company had revenue of $61.60 million during the quarter, compared to the consensus estimate of $61.49 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Carbonite’s revenue for the quarter was up 18.7% on a year-over-year basis.

Several brokerages have recently weighed in on CARB. Rosenblatt Securities began coverage on shares of Carbonite in a research note on Monday, September 18th. They issued a “buy” rating and a $28.00 target price for the company. BidaskClub downgraded shares of Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. JMP Securities initiated coverage on shares of Carbonite in a report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $30.00 price target on shares of Carbonite in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.71.

Shares of Carbonite (CARB) traded up $0.50 during mid-day trading on Wednesday, hitting $24.00. 553,820 shares of the stock traded hands, compared to its average volume of 252,186. The stock has a market capitalization of $656.76, a P/E ratio of 97.92, a PEG ratio of 2.39 and a beta of 0.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. Carbonite has a fifty-two week low of $15.30 and a fifty-two week high of $27.00.

In other news, Director Todd Krasnow sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $23.16, for a total transaction of $231,600.00. Following the completion of the transaction, the director now owns 227,230 shares in the company, valued at $5,262,646.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total transaction of $154,425.00. The disclosure for this sale can be found here. Insiders have sold 46,927 shares of company stock worth $1,051,368 over the last three months. 12.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in CARB. Alliancebernstein L.P. grew its position in shares of Carbonite by 4.9% during the first quarter. Alliancebernstein L.P. now owns 12,850 shares of the technology company’s stock worth $261,000 after acquiring an additional 600 shares during the last quarter. Legal & General Group Plc grew its position in Carbonite by 5.5% in the 1st quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock valued at $101,000 after buying an additional 265 shares in the last quarter. Vanguard Group Inc. grew its position in Carbonite by 41.5% in the 1st quarter. Vanguard Group Inc. now owns 1,468,756 shares of the technology company’s stock valued at $29,816,000 after buying an additional 430,556 shares in the last quarter. Aperio Group LLC grew its position in Carbonite by 29.5% in the 2nd quarter. Aperio Group LLC now owns 19,423 shares of the technology company’s stock valued at $423,000 after buying an additional 4,421 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Carbonite by 33.5% in the 2nd quarter. Rhumbline Advisers now owns 27,163 shares of the technology company’s stock valued at $592,000 after buying an additional 6,810 shares in the last quarter. Institutional investors and hedge funds own 94.61% of the company’s stock.

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Carbonite Company Profile

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

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