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

Equities research analysts expect MiX Telematics Limited (NYSE:MIXTGet Rating) to report sales of $36.14 million for the current quarter, according to Zacks. Two analysts have issued estimates for MiX Telematics’ earnings, with estimates ranging from $35.70 million to $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 company is expected to report its next quarterly 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 fiscal year, with estimates ranging from $142.90 million to $143.76 million. For the next year, analysts expect that the firm 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 an average based on a survey of research analysts that cover MiX Telematics.

MIXT has been the topic of a number of recent research reports. Zacks Investment Research upgraded MiX Telematics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Canaccord Genuity Group lifted their price objective on shares of MiX Telematics from $21.00 to $22.00 in a research note on Friday, February 4th. Raymond James decreased their target price on shares of MiX Telematics from $18.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Friday, February 4th. StockNews.com assumed coverage on shares of MiX Telematics in a report on Monday, April 11th. They set a “buy” rating for the company. Finally, TheStreet lowered shares of MiX Telematics from a “b-” rating to a “c+” rating in a report on Thursday, February 3rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $19.00.

In other news, Director Ian Jacobs bought 1,207,750 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were purchased at an average price of $0.46 per share, with a total value of $555,565.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Catherine J. Lewis sold 69,778 shares of the stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $0.49, for a total value of $34,191.22. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 11,215,275 shares of company stock worth $5,341,914 and sold 312,795 shares worth $153,270. 23.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of MiX Telematics by 36.5% during the 4th quarter. Bank of America Corp DE now owns 4,100 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,096 shares in the last quarter. BlackRock Inc. boosted its position in shares of MiX Telematics by 24.6% in the 3rd quarter. BlackRock Inc. now owns 7,412 shares of the technology company’s stock valued at $91,000 after purchasing an additional 1,462 shares during the period. Morgan Stanley increased its stake in MiX Telematics by 1,436.5% in the 3rd quarter. Morgan Stanley now owns 12,661 shares of the technology company’s stock worth $156,000 after purchasing an additional 11,837 shares in the last quarter. Citadel Advisors LLC raised its holdings in MiX Telematics by 157.4% during the 3rd quarter. Citadel Advisors LLC now owns 14,156 shares of the technology company’s stock worth $174,000 after buying an additional 8,656 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in MiX Telematics during the 1st quarter worth about $175,000.

MiX Telematics stock opened at $9.72 on Monday. The company has a market cap of $235.29 million, a price-to-earnings ratio of 26.27 and a beta of 0.85. MiX Telematics has a 12 month low of $9.43 and a 12 month high of $16.79. The stock’s 50-day moving average is $11.14 and its 200-day moving average is $11.57.

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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