Analysts Expect LogMein, Inc. (LOGM) Will Announce Quarterly Sales of $272.06 Million
Wall Street analysts expect LogMein, Inc. (NASDAQ:LOGM) to report $272.06 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for LogMein’s earnings. The lowest sales estimate is $271.81 million and the highest is $272.29 million. LogMein reported sales of $85.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 219.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that LogMein will report full year sales of $272.06 million for the current financial year, with estimates ranging from $1.01 billion to $1.02 billion. For the next year, analysts anticipate that the business will post sales of $1.17 billion per share, with estimates ranging from $1.15 billion to $1.19 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow LogMein.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The firm had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 220.6% compared to the same quarter last year.
LOGM has been the subject of several recent analyst reports. BidaskClub downgraded shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Thursday, August 3rd. Northland Securities restated a “buy” rating on shares of LogMein in a research note on Friday, July 28th. Cowen and Company reiterated a “buy” rating and set a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $131.85.
Shares of LogMein (NASDAQ:LOGM) opened at 110.00 on Friday. LogMein has a 12 month low of $86.22 and a 12 month high of $123.95. The company’s market capitalization is $5.80 billion. The stock has a 50 day moving average price of $113.87 and a 200-day moving average price of $107.89.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. LogMein’s dividend payout ratio is currently -909.01%.
In related news, Director Michael K. Simon sold 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.33, for a total transaction of $2,326,600.00. Following the transaction, the director now directly owns 790,977 shares in the company, valued at $92,014,354.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Raymond Wagner sold 4,588 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.30, for a total transaction of $533,584.40. Following the transaction, the chief executive officer now owns 69,542 shares in the company, valued at $8,087,734.60. The disclosure for this sale can be found here. Insiders have sold 46,303 shares of company stock valued at $5,347,182 in the last three months. Corporate insiders own 2.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Elliott Management Corp acquired a new position in LogMein during the first quarter worth about $118,804,000. Teachers Advisors LLC boosted its position in LogMein by 48.6% during the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock worth $33,933,000 after acquiring an additional 113,746 shares during the last quarter. Weiss Multi Strategy Advisers LLC acquired a new position in LogMein during the first quarter worth about $1,951,000. Massachusetts Financial Services Co. MA boosted its position in LogMein by 155.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock worth $155,784,000 after acquiring an additional 972,980 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in LogMein by 13.9% during the second quarter. LS Investment Advisors LLC now owns 5,400 shares of the software maker’s stock worth $564,000 after acquiring an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 95.69% of the company’s stock.
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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