Ebix Inc (EBIX) Expected to Post Quarterly Sales of $93.54 Million
Wall Street analysts expect that Ebix Inc (NASDAQ:EBIX) will report $93.54 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ebix’s earnings. The lowest sales estimate is $90.43 million and the highest is $96.65 million. Ebix posted sales of $80.05 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Ebix will report full year sales of $93.54 million for the current year, with estimates ranging from $349.72 million to $355.94 million. For the next fiscal year, analysts expect that the company will report sales of $397.65 million per share, with estimates ranging from $394.40 million to $400.89 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ebix.
A number of equities research analysts recently commented on the company. Zacks Investment Research cut Ebix from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Craig Hallum reaffirmed a “buy” rating and set a $87.00 price objective (up from $80.00) on shares of Ebix in a research note on Thursday, November 9th. Finally, William Blair assumed coverage on Ebix in a research note on Wednesday, September 27th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ebix currently has an average rating of “Buy” and a consensus target price of $85.50.
A number of large investors have recently bought and sold shares of EBIX. Riverhead Capital Management LLC grew its stake in Ebix by 69.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the technology company’s stock valued at $101,000 after acquiring an additional 765 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Ebix in the second quarter valued at about $121,000. Victory Capital Management Inc. grew its stake in Ebix by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,621 shares of the technology company’s stock valued at $141,000 after acquiring an additional 392 shares during the period. Pinebridge Investments L.P. grew its stake in Ebix by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock valued at $154,000 after acquiring an additional 32 shares during the period. Finally, US Bancorp DE grew its stake in Ebix by 10.5% in the second quarter. US Bancorp DE now owns 2,991 shares of the technology company’s stock valued at $161,000 after acquiring an additional 285 shares during the period. 63.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Ebix (NASDAQ EBIX) opened at $77.10 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.62. Ebix has a 52 week low of $52.40 and a 52 week high of $78.40. The company has a market capitalization of $2,428.37, a price-to-earnings ratio of 24.98, a P/E/G ratio of 2.52 and a beta of 1.74.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.39%. Ebix’s dividend payout ratio (DPR) is presently 9.71%.
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Ebix Company Profile
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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