$1.10 EPS Expected for LogMein, Inc. (LOGM) This Quarter
Analysts predict that LogMein, Inc. (NASDAQ:LOGM) will report $1.10 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LogMein’s earnings, with estimates ranging from $1.09 to $1.11. LogMein posted earnings of $0.56 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 96.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that LogMein will report full year earnings of $4.06 per share for the current year, with EPS estimates ranging from $4.02 to $4.10. For the next financial year, analysts expect that the firm will post earnings of $5.00 per share, with EPS estimates ranging from $4.66 to $5.15. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow LogMein.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million during the quarter, compared to the consensus estimate of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business’s quarterly revenue was up 220.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS.
LOGM has been the subject of several research reports. Cowen and Company lifted their price objective on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Vetr cut LogMein from a “hold” rating to a “sell” rating and set a $101.67 price objective for the company. in a report on Wednesday, April 26th. BidaskClub raised LogMein from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $150.00 price objective on shares of LogMein in a report on Friday, June 23rd. Finally, Zacks Investment Research cut LogMein from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $127.74.
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LogMein (NASDAQ LOGM) opened at 113.50 on Monday. The firm’s market capitalization is $5.98 billion. LogMein has a 1-year low of $79.63 and a 1-year high of $123.95. The company has a 50-day moving average price of $112.29 and a 200 day moving average price of $106.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. LogMein’s dividend payout ratio (DPR) is -909.01%.
In related news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $112.80, for a total value of $2,256,000.00. Following the completion of the transaction, the director now directly owns 800,102 shares in the company, valued at $90,251,505.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Raymond Wagner sold 4,588 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the transaction, the chief executive officer now owns 69,542 shares of the company’s stock, valued at $8,087,734.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,719 shares of company stock valued at $12,685,868. Insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LOGM. Nikko Asset Management Americas Inc. acquired a new position in LogMein during the first quarter valued at approximately $105,000. Creative Planning raised its position in LogMein by 142.9% in the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after buying an additional 673 shares during the last quarter. Amica Pension Fund Board of Trustees acquired a new position in LogMein during the first quarter valued at approximately $151,000. Amica Mutual Insurance Co. acquired a new position in LogMein during the first quarter valued at approximately $152,000. Finally, Fortaleza Asset Management Inc. acquired a new position in LogMein during the first quarter valued at approximately $172,000. Hedge funds and other institutional investors own 97.39% of the company’s stock.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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