MiX Telematics (MIXT) Releases Quarterly Earnings, Misses Estimates By $0.02 EPS
MiX Telematics (NASDAQ:MIXT) released its earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.02, American Banking & Market News reports. The company had revenue of $319.20 million for the quarter, compared to the consensus estimate of $329.54 million. During the same quarter last year, the company posted $0.04 earnings per share. MiX Telematics’s revenue was up 7.0% compared to the same quarter last year. MiX Telematics updated its FY15 guidance to R 0.17 -0.18 EPS.
Shares of MiX Telematics (NASDAQ:MIXT) traded down 5.32% during mid-day trading on Thursday, hitting $9.5345. 60,843 shares of the company’s stock traded hands. MiX Telematics has a 1-year low of $9.11 and a 1-year high of $20.03. The stock’s 50-day moving average is $10.06 and its 200-day moving average is $10.88. The company has a market cap of $299.1 million and a P/E ratio of 21.20.
On the ratings front, analysts at Midtown Partners initiated coverage on shares of MiX Telematics in a research note on Thursday, June 19th. They set a “strong-buy” rating and a $16.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $16.00.
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