Equities analysts predict that MiX Telematics Ltd – (NYSE:MIXT) will post $33.29 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for MiX Telematics’ earnings. The lowest sales estimate is $31.42 million and the highest is $34.42 million. MiX Telematics reported sales of $30.32 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.8%. The business is scheduled to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that MiX Telematics will report full year sales of $137.14 million for the current financial year, with estimates ranging from $128.06 million to $142.14 million. For the next fiscal year, analysts anticipate that the firm will report sales of $147.39 million per share, with estimates ranging from $135.49 million to $155.99 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover MiX Telematics.
MiX Telematics (NYSE:MIXT) last announced its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. MiX Telematics had a return on equity of 11.83% and a net margin of 9.46%. The business had revenue of $33.28 million during the quarter, compared to analyst estimates of $35.56 million.
Several brokerages have weighed in on MIXT. ValuEngine raised MiX Telematics from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Raymond James raised MiX Telematics from an “outperform” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Monday, August 20th. Zacks Investment Research lowered MiX Telematics from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, Canaccord Genuity increased their price objective on MiX Telematics from $23.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. MiX Telematics presently has a consensus rating of “Buy” and an average price target of $23.00.
NYSE MIXT traded up $0.03 on Thursday, hitting $15.45. 77,200 shares of the stock traded hands, compared to its average volume of 116,264. MiX Telematics has a 12 month low of $8.91 and a 12 month high of $21.00. The firm has a market cap of $341.82 million, a price-to-earnings ratio of 26.91 and a beta of 0.43.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wisconsin Investment Board grew its holdings in MiX Telematics by 8.3% during the first quarter. State of Wisconsin Investment Board now owns 43,477 shares of the technology company’s stock valued at $676,000 after purchasing an additional 3,317 shares during the period. Sei Investments Co. lifted its position in shares of MiX Telematics by 47.2% during the first quarter. Sei Investments Co. now owns 14,155 shares of the technology company’s stock worth $220,000 after acquiring an additional 4,538 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MiX Telematics by 45.5% during the first quarter. Dimensional Fund Advisors LP now owns 25,608 shares of the technology company’s stock worth $398,000 after acquiring an additional 8,013 shares in the last quarter. Cavalier Investments LLC lifted its position in shares of MiX Telematics by 48.9% during the second quarter. Cavalier Investments LLC now owns 40,500 shares of the technology company’s stock worth $717,000 after acquiring an additional 13,300 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of MiX Telematics by 2,063.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 17,441 shares of the technology company’s stock worth $271,000 after acquiring an additional 16,635 shares in the last quarter. 32.76% of the stock is owned by institutional investors and hedge funds.
MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
Further Reading: Market Capitalization
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