MiX Telematics Ltd – (NYSE:MIXT) Expected to Post Quarterly Sales of $25.55 Million

Wall Street brokerages expect MiX Telematics Ltd – (NYSE:MIXT) to announce $25.55 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for MiX Telematics’ earnings, with estimates ranging from $22.69 million to $28.40 million. MiX Telematics posted sales of $37.05 million in the same quarter last year, which suggests a negative year-over-year growth rate of 31%. The company is expected to issue its next quarterly earnings report on Thursday, August 6th.

According to Zacks, analysts expect that MiX Telematics will report full-year sales of $104.14 million for the current financial year, with estimates ranging from $91.38 million to $116.90 million. For the next year, analysts expect that the company will report sales of $117.03 million, with estimates ranging from $95.66 million to $138.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for MiX Telematics.

Several research firms have issued reports on MIXT. TheStreet lowered MiX Telematics from a “b-” rating to a “c+” rating in a research note on Friday, March 27th. Zacks Investment Research lowered MiX Telematics from a “hold” rating to a “sell” rating in a research note on Wednesday. Canaccord Genuity restated 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 restated a “hold” rating on shares of MiX Telematics in a research note on Thursday, May 28th. Finally, First Analysis lowered MiX Telematics from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $21.00 to $19.00 in a research note on Monday, March 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.67.

NYSE:MIXT traded up $0.17 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 company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.93. The business’s 50-day moving average price is $8.74 and its two-hundred day moving average price is $10.91. The firm has a market cap of $199.16 million, a PE ratio of 20.43 and a beta of 1.01. MiX Telematics has a 1-year low of $6.64 and a 1-year high of $16.44.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 19th will be paid a dividend of $0.0595 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.65%. MiX Telematics’s dividend payout ratio (DPR) is currently 26.09%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp bought a new position in shares of MiX Telematics during the first quarter worth approximately $136,000. Fondren Management LP grew its position in MiX Telematics by 120.0% during the first quarter. Fondren Management LP now owns 55,000 shares of the technology company’s stock worth $476,000 after buying an additional 30,000 shares in the last quarter. Invesco Ltd. grew its position in MiX Telematics by 4.0% during the first quarter. Invesco Ltd. now owns 79,223 shares of the technology company’s stock worth $685,000 after buying an additional 3,074 shares in the last quarter. Morgan Stanley grew its position in MiX Telematics by 15,557.0% during the first quarter. Morgan Stanley now owns 78,598 shares of the technology company’s stock worth $680,000 after buying an additional 78,096 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in MiX Telematics by 41.3% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,564,394 shares of the technology company’s stock worth $13,532,000 after buying an additional 457,592 shares in the last quarter. Institutional investors own 35.86% of the company’s stock.

MiX Telematics Company Profile

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

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