$25.55 Million in Sales Expected for MiX Telematics Ltd – (NYSE:MIXT) This Quarter

Wall Street brokerages expect MiX Telematics Ltd – (NYSE:MIXT) to announce $25.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for MiX Telematics’ earnings. The highest sales estimate is $28.40 million and the lowest is $22.69 million. MiX Telematics reported sales of $37.05 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 31%. The company is expected to issue its next quarterly earnings results on Thursday, August 6th.

According to Zacks, analysts expect that MiX Telematics will report full year sales of $104.14 million for the current fiscal year, with estimates ranging from $91.38 million to $116.90 million. For the next fiscal year, analysts expect that the business will post sales of $117.03 million, with estimates ranging from $95.66 million to $138.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow MiX Telematics.

Several analysts have recently commented on MIXT shares. Zacks Investment Research downgraded shares of MiX Telematics from a “hold” rating to a “sell” rating in a report on Wednesday. First Analysis downgraded shares of MiX Telematics from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $21.00 to $19.00 in a report on Monday, March 9th. Oppenheimer reissued a “hold” rating on shares of MiX Telematics in a report on Thursday, May 28th. Canaccord Genuity reissued a “buy” rating and set a $18.00 price target (down from $30.00) on shares of MiX Telematics in a report on Thursday, May 28th. Finally, TheStreet downgraded shares of MiX Telematics from a “b-” rating to a “c+” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.67.

Several hedge funds and other institutional investors have recently modified their holdings of MIXT. Disciplined Growth Investors Inc. MN raised its position in shares of MiX Telematics by 41.3% in the first quarter. Disciplined Growth Investors Inc. MN now owns 1,564,394 shares of the technology company’s stock valued at $13,532,000 after buying an additional 457,592 shares during the last quarter. Roumell Asset Management LLC acquired a new stake in MiX Telematics during the fourth quarter worth about $1,960,000. Bandera Partners LLC increased its position in MiX Telematics by 30.8% during the first quarter. Bandera Partners LLC now owns 537,941 shares of the technology company’s stock worth $4,653,000 after purchasing an additional 126,791 shares during the last quarter. Wellington Management Group LLP increased its position in MiX Telematics by 12.3% during the first quarter. Wellington Management Group LLP now owns 1,019,035 shares of the technology company’s stock worth $8,815,000 after purchasing an additional 111,291 shares during the last quarter. Finally, Morgan Stanley increased 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 purchasing an additional 78,096 shares during the last quarter. Institutional investors and hedge funds own 35.86% of the company’s stock.

Shares of MIXT stock traded up $0.17 during trading hours on Friday, hitting $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 50 day moving average of $8.74 and a 200 day moving average of $10.91. The stock has a market cap of $199.16 million, a PE ratio of 20.43 and a beta of 1.01. The company has a current ratio of 1.93, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. MiX Telematics has a 12-month low of $6.64 and a 12-month high of $16.44.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 19th will be given a $0.0595 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, June 18th. MiX Telematics’s dividend payout ratio (DPR) is 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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Earnings History and Estimates for MiX Telematics (NYSE:MIXT)

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