$305.17 Million in Sales Expected for LogMeIn Inc (LOGM) This Quarter

Equities analysts forecast that LogMeIn Inc (NASDAQ:LOGM) will post $305.17 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for LogMeIn’s earnings, with estimates ranging from $304.43 million to $305.80 million. LogMeIn posted sales of $257.03 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.7%. The business is scheduled to issue its next earnings results on Thursday, July 26th.

According to Zacks, analysts expect that LogMeIn will report full-year sales of $1.22 billion for the current year, with estimates ranging from $1.21 billion to $1.22 billion. For the next year, analysts forecast that the company will report sales of $1.31 billion per share, with estimates ranging from $1.29 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow LogMeIn.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, April 26th. The software maker reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.03. LogMeIn had a return on equity of 6.31% and a net margin of 13.67%. The company had revenue of $280.30 million for the quarter, compared to analyst estimates of $277.43 million. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year.



A number of equities analysts have commented on LOGM shares. Zacks Investment Research lowered LogMeIn from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. BidaskClub lowered LogMeIn from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 12th. Robert W. Baird restated a “buy” rating and set a $145.00 price objective on shares of LogMeIn in a research note on Sunday, April 29th. KeyCorp started coverage on LogMeIn in a research note on Friday, April 6th. They set an “overweight” rating and a $135.00 price objective on the stock. Finally, TheStreet lowered LogMeIn from a “b” rating to a “c+” rating in a research note on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $142.56.

LogMeIn stock opened at $108.20 on Tuesday. LogMeIn has a one year low of $103.00 and a one year high of $134.80. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 1.46 and a beta of 1.35.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Wednesday, May 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, May 8th. LogMeIn’s dividend payout ratio is presently 35.82%.

In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $110.03, for a total value of $2,200,600.00. Following the sale, the director now owns 738,171 shares of the company’s stock, valued at approximately $81,220,955.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward K. Herdiech sold 10,255 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $110.03, for a total value of $1,128,357.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,081 shares of company stock worth $15,752,754. Company insiders own 2.30% of the company’s stock.

Several hedge funds have recently modified their holdings of LOGM. Summit Trail Advisors LLC boosted its holdings in shares of LogMeIn by 10,016.5% in the 1st quarter. Summit Trail Advisors LLC now owns 143,452 shares of the software maker’s stock valued at $143,000 after purchasing an additional 142,034 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of LogMeIn by 77.5% in the 1st quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock valued at $166,000 after purchasing an additional 627 shares in the last quarter. Jefferies Group LLC acquired a new stake in shares of LogMeIn in the 4th quarter valued at $206,000. Silvant Capital Management LLC acquired a new stake in shares of LogMeIn in the 1st quarter valued at $267,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of LogMeIn in the 4th quarter valued at $317,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

LogMeIn Company Profile

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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