Analysts expect MiX Telematics Ltd – (NYSE:MIXT) to post sales of $25.55 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for MiX Telematics’ earnings, with the highest sales estimate coming in at $28.40 million and the lowest estimate coming in at $22.69 million. MiX Telematics posted sales of $37.05 million during the same quarter last year, which suggests a negative year over year growth rate of 31%. The company is expected to announce its next earnings results on Thursday, August 6th.
On average, analysts expect that MiX Telematics will report full-year sales of $104.14 million for the current year, with estimates ranging from $91.38 million to $116.90 million. For the next fiscal year, analysts expect that the firm will post sales of $117.03 million, with estimates ranging from $95.66 million to $138.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow MiX Telematics.
MIXT has been the subject of several recent research reports. First Analysis lowered shares of MiX Telematics from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $21.00 to $19.00 in a research note on Monday, March 9th. TheStreet lowered shares of MiX Telematics from a “b-” rating to a “c+” rating in a research note on Friday, March 27th. Canaccord Genuity reissued a “buy” rating and issued a $18.00 price objective (down previously from $30.00) on shares of MiX Telematics in a research note on Thursday, May 28th. Oppenheimer reissued a “hold” rating on shares of MiX Telematics in a research note on Thursday, May 28th. Finally, Zacks Investment Research lowered shares of MiX Telematics from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. MiX Telematics currently has a consensus rating of “Hold” and a consensus price target of $15.67.
Shares of NYSE MIXT traded up $0.17 during mid-day trading on Friday, reaching $8.99. The company’s stock had a trading volume of 34,000 shares, compared to its average volume of 94,299. The stock has a 50-day moving average of $8.74 and a two-hundred day moving average of $10.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.93. MiX Telematics has a 1-year low of $6.64 and a 1-year high of $16.44. The stock has a market capitalization of $199.16 million, a P/E ratio of 20.43 and a beta of 1.01.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 19th will be paid a $0.0595 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.24 dividend on an annualized basis and a yield of 2.65%. MiX Telematics’s dividend payout ratio is currently 26.09%.
About MiX Telematics
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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