Analysts Anticipate Carbonite (CARB) Will Post Earnings of $0.22 Per Share

Wall Street analysts forecast that Carbonite (NASDAQ:CARB) will announce earnings per share of $0.22 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Carbonite’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.21. Carbonite posted earnings per share of $0.09 during the same quarter last year, which indicates a positive year over year growth rate of 144.4%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, May 7th.

On average, analysts expect that Carbonite will report full year earnings of $1.49 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.52. For the next fiscal year, analysts expect that the company will report earnings of $1.73 per share, with EPS estimates ranging from $1.64 to $1.81. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Carbonite.

Carbonite (NASDAQ:CARB) last released its earnings results on Tuesday, February 13th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $61.69 million for the quarter, compared to analyst estimates of $63.72 million. Carbonite had a negative net margin of 1.67% and a positive return on equity of 38.08%.



A number of research analysts have issued reports on the stock. JMP Securities upped their target price on shares of Carbonite from $30.00 to $36.00 and gave the company a “market outperform” rating in a report on Friday, April 27th. ValuEngine upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a report on Wednesday. BidaskClub upgraded shares of Carbonite from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research lowered shares of Carbonite from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Finally, TheStreet lowered shares of Carbonite from a “c+” rating to a “d” rating in a report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.00.

In other news, SVP Norman Guadagno sold 1,134 shares of Carbonite stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $23.70, for a total transaction of $26,875.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anthony Folger sold 2,458 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $23.70, for a total value of $58,254.60. The disclosure for this sale can be found here. Insiders sold a total of 79,472 shares of company stock worth $1,987,934 in the last three months. 9.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pembroke Management LTD increased its position in shares of Carbonite by 0.4% during the fourth quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock valued at $31,378,000 after purchasing an additional 4,400 shares during the period. Alliancebernstein L.P. grew its position in Carbonite by 24.7% in the fourth quarter. Alliancebernstein L.P. now owns 23,750 shares of the technology company’s stock valued at $596,000 after acquiring an additional 4,700 shares during the period. We Are One Seven LLC bought a new stake in Carbonite in the fourth quarter valued at $148,000. Wells Fargo & Company MN grew its position in Carbonite by 18.7% in the fourth quarter. Wells Fargo & Company MN now owns 37,935 shares of the technology company’s stock valued at $952,000 after acquiring an additional 5,968 shares during the period. Finally, Fortaleza Asset Management Inc. bought a new stake in Carbonite in the fourth quarter valued at $167,000. 92.25% of the stock is currently owned by institutional investors.

NASDAQ:CARB traded up $0.15 on Friday, reaching $31.90. The stock had a trading volume of 250,852 shares, compared to its average volume of 342,988. The firm has a market cap of $899.27, a price-to-earnings ratio of 63.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.17. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.92. Carbonite has a 12-month low of $18.30 and a 12-month high of $33.55.

About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

Get a free copy of the Zacks research report on Carbonite (CARB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply