LogMein, Inc. (LOGM) Expected to Announce Quarterly Sales of $277.55 Million
Equities analysts expect LogMein, Inc. (NASDAQ:LOGM) to post sales of $277.55 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for LogMein’s earnings, with estimates ranging from $277.40 million to $277.79 million. LogMein reported sales of $87.97 million in the same quarter last year, which would suggest a positive year over year growth rate of 215.5%. The company is scheduled to report its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that LogMein will report full year sales of $277.55 million for the current year. For the next year, analysts expect that the business will post sales of $1.17 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for LogMein.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The company had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. During the same period in the prior year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 216.5% compared to the same quarter last year.
LogMein (NASDAQ LOGM) opened at $119.05 on Friday. LogMein has a twelve month low of $90.35 and a twelve month high of $129.51. The stock has a market cap of $6,274.41, a price-to-earnings ratio of 44.48, a PEG ratio of 2.08 and a beta of 1.34.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Tuesday, November 7th. LogMein’s payout ratio is 909.17%.
In related news, Director Steven J. Benson sold 3,016 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $111.60, for a total transaction of $336,585.60. Following the completion of the sale, the director now owns 1,787 shares in the company, valued at approximately $199,429.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Battles sold 1,136 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 24,152 shares of company stock valued at $2,710,858. Company insiders own 2.50% of the company’s stock.
A number of large investors have recently modified their holdings of LOGM. FMR LLC boosted its stake in LogMein by 45.9% during the 2nd quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock worth $442,745,000 after purchasing an additional 1,333,687 shares during the period. Wells Fargo & Company MN boosted its stake in LogMein by 75.6% during the 3rd quarter. Wells Fargo & Company MN now owns 1,521,683 shares of the software maker’s stock worth $167,461,000 after purchasing an additional 655,296 shares during the period. Bank of New York Mellon Corp boosted its stake in LogMein by 49.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock worth $163,531,000 after purchasing an additional 520,318 shares during the period. American Century Companies Inc. boosted its stake in LogMein by 86.2% during the 2nd quarter. American Century Companies Inc. now owns 1,017,898 shares of the software maker’s stock worth $106,370,000 after purchasing an additional 471,356 shares during the period. Finally, Voya Investment Management LLC boosted its stake in LogMein by 159.3% during the 2nd quarter. Voya Investment Management LLC now owns 565,396 shares of the software maker’s stock worth $59,084,000 after purchasing an additional 347,390 shares during the period. Hedge funds and other institutional investors own 95.39% of the company’s stock.
TRADEMARK VIOLATION WARNING: “LogMein, Inc. (LOGM) Expected to Announce Quarterly Sales of $277.55 Million” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/11/25/logmein-inc-logm-expected-to-announce-quarterly-sales-of-277-55-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LogMein Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein Inc. and related companies with MarketBeat.com's FREE daily email newsletter.