LogMein, Inc. (LOGM) Expected to Post Earnings of $1.16 Per Share
Analysts expect LogMein, Inc. (NASDAQ:LOGM) to post $1.16 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for LogMein’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.18. LogMein posted earnings of $0.62 per share during the same quarter last year, which suggests a positive year over year growth rate of 87.1%. The business is scheduled to report its next earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that LogMein will report full year earnings of $4.18 per share for the current year, with EPS estimates ranging from $4.05 to $4.24. For the next financial year, analysts anticipate that the business will report earnings of $4.95 per share, with EPS estimates ranging from $4.75 to $5.22. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow LogMein.
LogMein (NASDAQ:LOGM) last issued its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The company had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. During the same period in the prior year, the firm earned $0.56 earnings per share. LogMein’s revenue for the quarter was up 216.5% on a year-over-year basis.
A number of brokerages have recently weighed in on LOGM. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Wednesday. Cowen and Company reaffirmed a “buy” rating and set a $145.00 target price on shares of LogMein in a research report on Sunday, October 29th. Barclays PLC upped their price target on LogMein from $132.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $170.00 price target on shares of LogMein in a report on Tuesday, October 24th. Finally, Robert W. Baird upgraded LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $135.96.
In other LogMein news, insider Christopher Battles sold 1,136 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the sale, the insider now owns 2,760 shares of the company’s stock, valued at approximately $329,626.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Benson sold 3,016 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total value of $336,585.60. Following the transaction, the director now directly owns 1,787 shares in the company, valued at $199,429.20. The disclosure for this sale can be found here. Insiders have sold a total of 48,740 shares of company stock worth $5,571,042 in the last three months. 2.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning raised its holdings in shares of LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after buying an additional 3 shares in the last quarter. Reliance Trust Co. of Delaware bought a new position in LogMein during the 3rd quarter worth approximately $201,000. American Capital Management Inc. bought a new position in LogMein during the 2nd quarter worth approximately $203,000. Osborn Williams & Donohoe LLC bought a new position in LogMein during the 2nd quarter worth approximately $203,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in LogMein during the 2nd quarter worth approximately $208,000. 95.68% of the stock is currently owned by institutional investors.
Shares of LogMein (LOGM) traded down $0.15 during trading hours on Friday, hitting $122.75. The stock had a trading volume of 980,860 shares, compared to its average volume of 558,476. LogMein has a one year low of $90.35 and a one year high of $129.51. The firm has a market capitalization of $6,460.00, a price-to-earnings ratio of 45.86, a price-to-earnings-growth ratio of 2.14 and a beta of 1.34.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.81%. LogMein’s payout ratio is 909.09%.
LogMein Company Profile
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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