MiX Telematics Ltd – (MIXT) Expected to Announce Quarterly Sales of $36.00 Million

Wall Street brokerages expect MiX Telematics Ltd – (NYSE:MIXT) to report sales of $36.00 million for the current quarter, Zacks reports. Three analysts have provided estimates for MiX Telematics’ earnings, with estimates ranging from $35.08 million to $36.47 million. MiX Telematics posted sales of $29.18 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 24th.

On average, analysts expect that MiX Telematics will report full-year sales of $36.00 million for the current year, with estimates ranging from $136.94 million to $142.35 million. For the next financial year, analysts expect that the company will post sales of $150.89 million per share, with estimates ranging from $146.32 million to $153.30 million. Zacks’ sales averages are an average based on a survey of research firms that cover MiX Telematics.

MiX Telematics (NYSE:MIXT) last announced its earnings results on Thursday, February 1st. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. MiX Telematics had a net margin of 9.07% and a return on equity of 9.14%. The business had revenue of $442.00 million for the quarter, compared to analyst estimates of $427.11 million. The business’s revenue for the quarter was up 10.2% on a year-over-year basis.

Several analysts have recently issued reports on MIXT shares. Zacks Investment Research upgraded shares of MiX Telematics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Friday, October 20th. BidaskClub raised shares of MiX Telematics from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Canaccord Genuity raised their price target on shares of MiX Telematics from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, ValuEngine raised shares of MiX Telematics from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. MiX Telematics currently has a consensus rating of “Buy” and an average price target of $15.50.

Large investors have recently bought and sold shares of the company. Boston Partners raised its stake in MiX Telematics by 510.0% during the third quarter. Boston Partners now owns 375,500 shares of the technology company’s stock worth $3,725,000 after purchasing an additional 313,945 shares during the period. Russell Investments Group Ltd. raised its stake in MiX Telematics by 432.8% during the third quarter. Russell Investments Group Ltd. now owns 309,429 shares of the technology company’s stock worth $3,070,000 after purchasing an additional 251,352 shares during the period. Jane Street Group LLC purchased a new position in MiX Telematics during the third quarter worth about $2,011,000. Disciplined Growth Investors Inc. MN purchased a new position in MiX Telematics during the third quarter worth about $1,236,000. Finally, Quantum Capital Management purchased a new position in MiX Telematics during the third quarter worth about $914,000. 27.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MiX Telematics (NYSE:MIXT) opened at $13.78 on Monday. MiX Telematics has a 52-week low of $5.59 and a 52-week high of $14.41. The stock has a market cap of $309.90, a PE ratio of 27.56, a PEG ratio of 1.79 and a beta of 0.76.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd will be paid a $0.052 dividend. This is an increase from MiX Telematics’s previous quarterly dividend of $0.04. This represents a $0.21 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, February 22nd. MiX Telematics’s dividend payout ratio (DPR) is currently 26.00%.

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About MiX Telematics

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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Earnings History and Estimates for MiX Telematics (NYSE:MIXT)

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