Carbonite, Inc. (CARB) Scheduled to Post Earnings on Monday
Carbonite, Inc. (NASDAQ:CARB) is set to post its quarterly earnings results after the market closes on Monday, July 31st. Analysts expect Carbonite to post earnings of $0.12 per share for the quarter. Carbonite has set its Q2 guidance at $0.11-0.13 EPS and its FY17 guidance at $0.74-0.80 EPS.
Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, May 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. Carbonite had a net margin of 3.79% and a return on equity of 200.32%. The firm had revenue of $57.10 million for the quarter, compared to analyst estimates of $55.49 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was up 18.7% compared to the same quarter last year. On average, analysts expect Carbonite to post $0.43 EPS for the current fiscal year and $0.5 EPS for the next fiscal year.
Carbonite, Inc. (NASDAQ CARB) opened at 23.15 on Monday. The firm’s 50 day moving average is $21.88 and its 200-day moving average is $19.90. Carbonite, Inc. has a 12 month low of $10.42 and a 12 month high of $24.60. The firm has a market cap of $636.44 million, a price-to-earnings ratio of 76.91 and a beta of 0.12.
Carbonite announced that its board has initiated a stock repurchase plan on Tuesday, March 28th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.6% of its shares through a private placement purchase. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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Several analysts have recently issued reports on CARB shares. B. Riley reissued a “buy” rating and issued a $26.00 price target on shares of Carbonite in a research report on Monday, May 8th. Barclays PLC started coverage on shares of Carbonite in a research report on Monday, June 26th. They issued an “equal weight” rating and a $26.00 price target on the stock. Finally, BidaskClub raised shares of Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.29.
In related news, CFO Anthony Folger sold 5,960 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $21.45, for a total transaction of $127,842.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul S. Mellinger sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $21.04, for a total transaction of $157,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 68,901 shares of company stock worth $1,416,266. Insiders own 12.20% of the company’s stock.
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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