Zacks: Brokerages Anticipate MiX Telematics Ltd – (MIXT) Will Post Quarterly Sales of $36.00 Million

Analysts forecast that MiX Telematics Ltd – (NYSE:MIXT) will announce sales of $36.00 million for the current quarter, according to Zacks. Three analysts have made estimates for MiX Telematics’ earnings, with estimates ranging from $35.08 million to $36.47 million. MiX Telematics posted sales of $29.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.4%. The company is expected to issue its next earnings report on Thursday, May 24th.

According to Zacks, analysts expect that MiX Telematics will report full-year sales of $36.00 million for the current fiscal year, with estimates ranging from $136.94 million to $142.35 million. For the next year, analysts forecast that the business will post sales of $150.89 million per share, with estimates ranging from $146.32 million to $153.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow MiX Telematics.

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MiX Telematics (NYSE:MIXT) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $442.00 million for the quarter, compared to analysts’ expectations of $427.11 million. MiX Telematics had a return on equity of 9.14% and a net margin of 9.07%. MiX Telematics’s revenue was up 10.2% on a year-over-year basis.

Several analysts have recently issued reports on MIXT shares. ValuEngine cut MiX Telematics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Canaccord Genuity reiterated a “buy” rating and issued a $20.00 price objective on shares of MiX Telematics in a research note on Thursday, February 1st. Finally, Zacks Investment Research upgraded MiX Telematics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday, March 16th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.50.

A number of institutional investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its holdings in shares of MiX Telematics by 4.7% during the third quarter. Pinnacle Associates Ltd. now owns 135,735 shares of the technology company’s stock worth $1,346,000 after buying an additional 6,100 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of MiX Telematics by 47.6% during the 2nd quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock valued at $164,000 after buying an additional 6,708 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of MiX Telematics during the 3rd quarter valued at $103,000. Royce & Associates LP grew its stake in shares of MiX Telematics by 19.8% during the 3rd quarter. Royce & Associates LP now owns 69,485 shares of the technology company’s stock valued at $689,000 after buying an additional 11,500 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of MiX Telematics by 37.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 79,970 shares of the technology company’s stock valued at $793,000 after buying an additional 21,677 shares during the period. Institutional investors own 31.66% of the company’s stock.

Shares of MIXT stock traded down $0.17 during midday trading on Friday, hitting $15.65. The stock had a trading volume of 68,241 shares, compared to its average volume of 93,146. The firm has a market capitalization of $360.50, a PE ratio of 37.28, a P/E/G ratio of 2.08 and a beta of 0.58. MiX Telematics has a twelve month low of $5.59 and a twelve month high of $16.10.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.052 dividend. This is a boost from MiX Telematics’s previous quarterly dividend of $0.04. This represents a $0.21 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, February 22nd. MiX Telematics’s dividend payout ratio (DPR) is presently 32.00%.

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MiX Telematics Company Profile

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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Earnings History and Estimates for MiX Telematics (NYSE:MIXT)

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