Carbonite, Inc. (CARB) Scheduled to Post Quarterly Earnings on Wednesday
Carbonite, Inc. (NASDAQ:CARB) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Carbonite has set its Q3 guidance at $0.19-0.21 EPS and its FY17 guidance at $0.74-0.80 EPS.
Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. Carbonite had a net margin of 0.29% and a return on equity of 36.43%. The business had revenue of $59.00 million during the quarter, compared to analyst estimates of $59.97 million. During the same period in the previous year, the business posted $0.19 earnings per share. Carbonite’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect Carbonite to post $0.37 EPS for the current fiscal year and $0.38 EPS for the next fiscal year.
Shares of Carbonite, Inc. (NASDAQ CARB) opened at 23.35 on Wednesday. Carbonite, Inc. has a 12 month low of $14.10 and a 12 month high of $24.60. The firm’s 50-day moving average is $21.45 and its 200 day moving average is $21.08. The company has a market capitalization of $649.11 million, a price-to-earnings ratio of 1111.90 and a beta of 0.27.
CARB has been the subject of a number of research analyst reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $30.00 price objective on shares of Carbonite in a report on Thursday, September 21st. Rosenblatt Securities initiated coverage on shares of Carbonite in a report on Monday, September 18th. They set a “buy” rating and a $28.00 price objective for the company. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective on shares of Carbonite in a report on Wednesday, August 2nd. TheStreet raised shares of Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $27.00 price objective (up 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 given a hold rating and six have assigned a buy rating to the company’s stock. Carbonite presently has an average rating of “Buy” and a consensus price target of $27.71.
In related news, insider Cassandra Hudson sold 1,563 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $22.05, for a total value of $34,464.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 12,500 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $21.19, for a total transaction of $264,875.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,421 shares of company stock valued at $641,877. 12.20% of the stock is currently owned by insiders.
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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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