MiX Telematics Limited (NYSE:MIXT) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.13.
MIXT has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Tuesday, May 30th. TheStreet upgraded shares of MiX Telematics Limited from a “c+” rating to a “b-” rating in a research note on Tuesday, July 11th. Finally, ValuEngine cut shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research note on Friday, May 26th.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock worth $123,000 after buying an additional 10,015 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of MiX Telematics Limited during the first quarter worth about $225,000. Bank of New York Mellon Corp increased its position in shares of MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock worth $367,000 after buying an additional 1,715 shares in the last quarter. Blair William & Co. IL increased its position in shares of MiX Telematics Limited by 0.6% in the first quarter. Blair William & Co. IL now owns 56,478 shares of the technology company’s stock worth $403,000 after buying an additional 340 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its position in shares of MiX Telematics Limited by 0.8% in the first quarter. Rice Hall James & Associates LLC now owns 335,404 shares of the technology company’s stock worth $2,113,000 after buying an additional 2,778 shares in the last quarter. Institutional investors and hedge funds own 14.37% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/07/24/mix-telematics-limited-mixt-receives-average-rating-of-hold-from-analysts.html.
MiX Telematics Limited (NYSE:MIXT) traded up 2.15% on Monday, reaching $8.54. 96,222 shares of the company’s stock were exchanged. The company has a market capitalization of $192.47 million, a P/E ratio of 22.77 and a beta of 0.84. MiX Telematics Limited has a 1-year low of $4.93 and a 1-year high of $8.60. The firm has a 50-day moving average price of $7.76 and a 200-day moving average price of $6.95.
MiX Telematics Limited (NYSE:MIXT) last released its earnings results on Thursday, May 25th. The technology company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 7.16%. The company had revenue of $29.18 million during the quarter, compared to analysts’ expectations of $27.81 million. Equities research analysts expect that MiX Telematics Limited will post $0.02 earnings per share for the current year.
The business also recently declared a special dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were issued a $0.029 dividend. The ex-dividend date was Tuesday, June 13th. This is an increase from MiX Telematics Limited’s previous special dividend of $0.01. MiX Telematics Limited’s dividend payout ratio (DPR) is currently 31.43%.
MiX Telematics Limited declared that its Board of Directors has initiated a share buyback plan on Thursday, May 25th that authorizes the company to repurchase $20.10 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
About MiX Telematics Limited
MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.
Receive News & Ratings for MiX Telematics Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiX Telematics Limited and related companies with MarketBeat.com's FREE daily email newsletter.
