MiX Telematics Limited (NYSE:MIXT) Expected to Post Quarterly Sales of $36.14 Million

Analysts expect MiX Telematics Limited (NYSE:MIXTGet Rating) to post sales of $36.14 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for MiX Telematics’ earnings, with the lowest sales estimate coming in at $35.70 million and the highest estimate coming in at $36.58 million. MiX Telematics reported sales of $34.35 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The business is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that MiX Telematics will report full-year sales of $143.33 million for the current financial year, with estimates ranging from $142.90 million to $143.76 million. For the next fiscal year, analysts expect that the business will report sales of $150.87 million, with estimates ranging from $150.64 million to $151.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for MiX Telematics.

A number of equities analysts recently commented on MIXT shares. Canaccord Genuity Group increased their price target on MiX Telematics from $21.00 to $22.00 in a research note on Friday, February 4th. TheStreet downgraded MiX Telematics from a “b-” rating to a “c+” rating in a research report on Thursday, February 3rd. Canaccord Genuity Group upped their price objective on MiX Telematics from $21.00 to $22.00 in a research report on Friday, February 4th. StockNews.com assumed coverage on MiX Telematics in a research report on Monday, April 11th. They set a “buy” rating on the stock. Finally, Zacks Investment Research upgraded MiX Telematics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MiX Telematics currently has a consensus rating of “Buy” and an average price target of $19.00.

In related news, Director Ian Jacobs acquired 1,207,750 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was bought at an average price of $0.46 per share, for a total transaction of $555,565.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Paul M. Dell sold 123,565 shares of MiX Telematics stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $0.49, for a total transaction of $60,546.85. The disclosure for this sale can be found here. Over the last three months, insiders have bought 11,215,275 shares of company stock valued at $5,341,914 and have sold 312,795 shares valued at $153,270. 23.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MIXT. Wellington Management Group LLP raised its holdings in shares of MiX Telematics by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,168,803 shares of the technology company’s stock valued at $14,388,000 after purchasing an additional 95,400 shares in the last quarter. BlackRock Inc. boosted its stake in shares of MiX Telematics by 24.6% in the third quarter. BlackRock Inc. now owns 7,412 shares of the technology company’s stock worth $91,000 after buying an additional 1,462 shares during the last quarter. Kopion Asset Management LLC lifted its holdings in MiX Telematics by 1.5% in the fourth quarter. Kopion Asset Management LLC now owns 563,630 shares of the technology company’s stock valued at $7,107,000 after acquiring an additional 8,563 shares during the period. Dimensional Fund Advisors LP boosted its position in MiX Telematics by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 105,887 shares of the technology company’s stock worth $1,303,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of MiX Telematics during the 3rd quarter worth approximately $317,000.

NYSE MIXT opened at $9.72 on Monday. The business has a 50-day moving average price of $11.14 and a 200-day moving average price of $11.57. MiX Telematics has a twelve month low of $9.43 and a twelve month high of $16.79. The firm has a market cap of $235.29 million, a price-to-earnings ratio of 26.27 and a beta of 0.85.

About MiX Telematics (Get Rating)

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model. The company offers MiX Fleet Manager, a web-based application, which provides commercial fleet management solution that gives user live and historical views of driver and vehicle performance information, including vehicle tracking and status information, as well as alerts and notifications; MiX Asset Manager, a portfolio of asset tracking products comprising generators, light towers, storage tanks, and pumps; and Matrix, a mobile asset management solutions that offers real-time and historical vehicle tracking and positioning, unauthorized vehicle use alerts, panic emergency response, crash alerts, driver behavior alerts, fuel tax logbooks, and vehicle maintenance notifications for entry-level fleets and consumers.

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

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