Analysts Expect MiX Telematics Ltd – (MIXT) Will Post Quarterly Sales of $30.70 Million

Equities analysts expect MiX Telematics Ltd – (NYSE:MIXT) to report $30.70 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for MiX Telematics’ earnings. The lowest sales estimate is $29.66 million and the highest is $31.93 million. MiX Telematics reported sales of $29.21 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that MiX Telematics will report full-year sales of $30.70 million for the current year, with estimates ranging from $117.29 million to $124.04 million. For the next year, analysts expect that the firm will post sales of $129.78 million per share, with estimates ranging from $126.27 million to $136.05 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow MiX Telematics.

A number of brokerages have recently issued reports on MIXT. ValuEngine downgraded shares of MiX Telematics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub upgraded shares of MiX Telematics from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research downgraded shares of MiX Telematics from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Canaccord Genuity raised their price target on shares of MiX Telematics from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

A number of institutional investors have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN acquired a new stake in MiX Telematics in the 3rd quarter valued at approximately $1,236,000. Jane Street Group LLC acquired a new stake in MiX Telematics in the 3rd quarter valued at approximately $2,011,000. Royce & Associates LP increased its holdings in MiX Telematics by 19.8% in the 3rd quarter. Royce & Associates LP now owns 69,485 shares of the technology company’s stock valued at $689,000 after purchasing an additional 11,500 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in MiX Telematics in the 3rd quarter valued at approximately $771,000. Finally, Pinnacle Associates Ltd. increased its holdings in MiX Telematics by 4.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 135,735 shares of the technology company’s stock valued at $1,346,000 after purchasing an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 27.04% of the company’s stock.

Shares of MiX Telematics (NYSE MIXT) traded down $0.12 during midday trading on Tuesday, hitting $12.62. 88,500 shares of the stock were exchanged, compared to its average volume of 53,060. The firm has a market cap of $285.06, a P/E ratio of 31.55, a P/E/G ratio of 1.65 and a beta of 0.89. MiX Telematics has a fifty-two week low of $5.59 and a fifty-two week high of $13.17.

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About MiX Telematics

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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