$0.10 EPS Expected for MiX Telematics Limited (NYSE:MIXT) This Quarter

Equities analysts forecast that MiX Telematics Limited (NYSE:MIXT) will post earnings of $0.10 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for MiX Telematics Limited’s earnings. MiX Telematics Limited reported earnings per share of $0.04 during the same quarter last year, which would suggest a positive year-over-year growth rate of 150%. The business is scheduled to announce its next earnings report before the market opens on Thursday, August 3rd.

On average, analysts expect that MiX Telematics Limited will report full-year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.38 to $0.39. For the next year, analysts expect that the company will report earnings of $0.49 per share, with EPS estimates ranging from $0.46 to $0.53. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow MiX Telematics Limited.

MiX Telematics Limited (NYSE:MIXT) last issued its earnings results on Thursday, May 25th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.04 by $0.06. The company had revenue of $29.18 million during the quarter, compared to analysts’ expectations of $27.81 million. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 7.16%.

Several equities analysts have recently issued reports on MIXT shares. TheStreet raised shares of MiX Telematics Limited from a “c+” rating to a “b-” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised shares of MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, May 30th. Finally, ValuEngine downgraded shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.13.

Shares of MiX Telematics Limited (NYSE MIXT) traded down 0.24% during mid-day trading on Tuesday, hitting $8.19. 159,226 shares of the company’s stock traded hands. The company has a market cap of $184.58 million, a PE ratio of 21.84 and a beta of 0.84. MiX Telematics Limited has a 52 week low of $4.93 and a 52 week high of $8.60. The firm has a 50-day moving average of $7.98 and a 200 day moving average of $7.02.

MiX Telematics Limited declared that its board has initiated a stock buyback plan on Thursday, May 25th that allows the company to buyback $20.10 million in shares. This buyback authorization allows the technology company to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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Several institutional investors have recently added to or reduced their stakes in MIXT. Russell Investments Group Ltd. increased its position in 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 valued at $123,000 after buying an additional 10,015 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of MiX Telematics Limited during the first quarter worth $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. 14.37% of the stock is owned by hedge funds and other institutional investors.

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.

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