Wall Street brokerages forecast that Carbonite, Inc. (NASDAQ:CARB) will announce earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Carbonite’s earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.24. Carbonite posted earnings per share of $0.14 in the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to issue its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Carbonite will report full year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.75 to $0.78. For the next financial year, analysts expect that the company will report earnings of $0.99 per share, with EPS estimates ranging from $0.95 to $1.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Carbonite.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $59 million for the quarter, compared to analyst estimates of $59.97 million. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share.

A number of research analysts have recently commented on the company. BidaskClub cut Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Carbonite in a report on Monday, August 7th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $27.00 price target (up previously from $26.00) on shares of Carbonite in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Carbonite currently has an average rating of “Buy” and an average price target of $24.43.

In related news, SVP Norman Guadagno sold 2,489 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $21.65, for a total value of $53,886.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 6,540 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $22.34, for a total value of $146,103.60. The disclosure for this sale can be found here. Insiders sold 29,755 shares of company stock valued at $638,981 in the last quarter. 12.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CARB. Renaissance Technologies LLC lifted its holdings in Carbonite by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,317,700 shares of the technology company’s stock worth $50,526,000 after buying an additional 131,300 shares during the period. Vanguard Group Inc. lifted its holdings in Carbonite by 14.8% during the second quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock worth $36,757,000 after buying an additional 217,337 shares during the period. Russell Investments Group Ltd. lifted its holdings in Carbonite by 192.9% during the second quarter. Russell Investments Group Ltd. now owns 1,382,650 shares of the technology company’s stock worth $30,143,000 after buying an additional 910,533 shares during the period. Crosslink Capital Inc. lifted its holdings in Carbonite by 7.2% during the second quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock worth $28,623,000 after buying an additional 87,900 shares during the period. Finally, Pembroke Management LTD lifted its holdings in Carbonite by 2.4% during the second quarter. Pembroke Management LTD now owns 1,269,500 shares of the technology company’s stock worth $27,675,000 after buying an additional 30,000 shares during the period. Hedge funds and other institutional investors own 93.65% of the company’s stock.

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Carbonite (NASDAQ CARB) traded down 3.05% during trading on Friday, hitting $19.05. The company had a trading volume of 159,385 shares. The stock has a market capitalization of $529.57 million, a price-to-earnings ratio of 907.14 and a beta of 0.22. The company’s 50 day moving average price is $20.95 and its 200-day moving average price is $20.64. Carbonite has a 1-year low of $13.43 and a 1-year high of $24.60.

About Carbonite

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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