Brokerages Expect LogMein, Inc. (LOGM) to Announce $1.10 Earnings Per Share
Equities research analysts forecast that LogMein, Inc. (NASDAQ:LOGM) will post earnings of $1.10 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for LogMein’s earnings, with estimates ranging from $1.09 to $1.11. LogMein reported earnings per share of $0.56 in the same quarter last year, which indicates a positive year-over-year growth rate of 96.4%. The company is scheduled to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that LogMein will report full year earnings of $4.05 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 report earnings of $5.00 per share, with EPS estimates ranging from $4.66 to $5.15. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover LogMein.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business’s quarterly revenue was up 220.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share.
Several research analysts have recently issued reports on LOGM shares. Cowen and Company increased their price target on LogMein from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. BidaskClub raised LogMein from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies reissued an “overweight” rating and issued a $150.00 price target on shares of LogMein in a research note on Friday, June 23rd. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Thursday, August 3rd. Finally, KeyCorp raised LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $131.85.
Shares of LogMein (NASDAQ:LOGM) traded down 1.79% during mid-day trading on Friday, hitting $110.00. 322,246 shares of the stock traded hands. The company’s market cap is $5.80 billion. LogMein has a one year low of $86.22 and a one year high of $123.95. The stock has a 50 day moving average price of $113.94 and a 200-day moving average price of $107.87.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were issued a $0.25 dividend. The ex-dividend date was Monday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. LogMein’s dividend payout ratio (DPR) is -909.01%.
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In other news, insider Christopher Battles sold 721 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the sale, the insider now directly owns 2,036 shares of the company’s stock, valued at $239,800.08. The sale was disclosed in a document filed with the SEC, which is available at 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 sale, the chief executive officer now directly owns 69,542 shares of the company’s stock, valued at $8,087,734.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,303 shares of company stock valued at $5,347,182. Insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of LogMein by 142.9% during the first quarter. Creative Planning now owns 1,144 shares of the software maker’s stock valued at $112,000 after purchasing an additional 673 shares during the last quarter. American Capital Management Inc. purchased a new stake in shares of LogMein during the second quarter valued at $203,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of LogMein during the second quarter valued at $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of LogMein by 102.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock valued at $190,000 after purchasing an additional 985 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of LogMein during the second quarter valued at $208,000. 95.69% of the stock is owned by institutional investors and hedge funds.
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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