Analysts expect MiX Telematics Limited (NYSE:MIXT) to post sales of $29.35 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MiX Telematics Limited’s earnings, with estimates ranging from $27.62 million to $30.70 million. MiX Telematics Limited posted sales of $26.56 million in the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The business is expected to issue its next earnings results before the market opens on Thursday, November 2nd.

On average, analysts expect that MiX Telematics Limited will report full-year sales of $29.35 million for the current year, with estimates ranging from $115.43 million to $124.41 million. For the next fiscal year, analysts forecast that the company will report sales of $129.41 million per share, with estimates ranging from $124.02 million to $134.76 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for MiX Telematics Limited.

MiX Telematics Limited (NYSE:MIXT) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 8.56%. The company had revenue of $31.08 million for the quarter, compared to the consensus estimate of $31.22 million.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Friday, October 20th. ValuEngine cut MiX Telematics Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Canaccord Genuity restated a “buy” rating and issued a $12.00 price target on shares of MiX Telematics Limited in a research report on Thursday, August 3rd. Finally, TheStreet upgraded MiX Telematics Limited from a “c+” rating to a “b-” rating in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. MiX Telematics Limited currently has an average rating of “Hold” and an average price target of $11.50.

Several hedge funds and other institutional investors have recently modified their holdings of MIXT. Russell Investments Group Ltd. increased its position in shares of MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock worth $123,000 after purchasing an additional 10,015 shares during the period. Bank of New York Mellon Corp increased its position in shares of MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock worth $367,000 after purchasing an additional 1,715 shares during the period. Renaissance Technologies LLC increased its position in shares of MiX Telematics Limited by 53.6% in the first quarter. Renaissance Technologies LLC now owns 543,510 shares of the technology company’s stock worth $3,424,000 after purchasing an additional 189,710 shares during the period. Acadian Asset Management LLC increased its position in shares of MiX Telematics Limited by 31.1% in the second quarter. Acadian Asset Management LLC now owns 520,875 shares of the technology company’s stock worth $4,105,000 after purchasing an additional 123,643 shares during the period. Finally, Boston Partners bought a new position in shares of MiX Telematics Limited in the second quarter worth $485,000. Institutional investors own 20.05% of the company’s stock.

Shares of MiX Telematics Limited (NYSE:MIXT) opened at 10.01 on Friday. The stock has a 50 day moving average of $9.70 and a 200 day moving average of $8.11. The firm has a market cap of $223.61 million, a P/E ratio of 25.02 and a beta of 0.81. MiX Telematics Limited has a 52 week low of $5.59 and a 52 week high of $10.29.

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MiX Telematics Limited Company Profile

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

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