Mimecast Limited (NASDAQ: MIME) Expected to Post $ 0.33 Per Share Earnings
Brokerages expect Mimecast Limited (NASDAQ: MIME) to report earnings per share (EPS) of $ 0.33 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Mimecast’s revenue, with estimates ranging from $ 0.32 to $ 0.35. Mimecast posted earnings per share of $ 0.32 in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The company is expected to release its next quarterly results on Monday, November 1.
On average, analysts expect Mimecast to report annual earnings of $ 1.27 per share for the current fiscal year, with EPS estimates ranging from $ 1.24 to $ 1.31. For the next fiscal year, analysts expect the company to report earnings of $ 1.44 per share, with EPS estimates ranging from $ 1.39 to $ 1.49. Zacks’ EPS calculations are an average based on a survey of analysts who provide coverage for Mimecast.
Mimecast (NASDAQ: MIME) last reported its quarterly results on Tuesday, August 3. The tech company reported earnings per share (EPS) of $ 0.32 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.30 of $ 0.02. The company posted revenue of $ 142.55 million in the quarter, compared to analysts’ estimates of $ 138.13 million. Mimecast had a return on equity of 10.84% and a net margin of 6.94%. The company’s revenue increased 23.8% year-on-year. During the same period of the previous year, the company achieved EPS of $ 0.22.
Several brokerages have recently published reports on MIME. JPMorgan Chase & Co. raised Mimecast from an “underweight” rating to a “neutral” rating and raised its price target for the company from $ 46.00 to $ 68.00 in a report released on Tuesday 3 August. Barclays raised its price target on Mimecast from $ 56.00 to $ 61.00 and gave the company an “overweight” rating in a research note on Thursday, July 15. BMO Capital Markets raised its price target on Mimecast from $ 52.00 to $ 66.00 and assigned the company a “market performance” rating in a research note on Wednesday, August 4. Loop Capital downgraded Mimecast from a “buy” rating to a “keep” rating and set a price target of $ 60.00 on the stock. in a research note on Monday July 26. Finally, Colliers Securities reissued a “buy” note and issued a price target of $ 70.00 on Mimecast shares in a research note on Monday, July 26. One analyst rated the stock with a sell rating, five issued a conservation rating, and eight assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $ 64.31.
Mimecast shares traded down $ 0.06 when trading on Monday, reaching $ 59.40. 4,041 shares were traded in the hands, compared to its average volume of 708,426. The company has a market capitalization of $ 3.90 billion, a PE ratio of 108.04, a P / E / G ratio of 2.65 and a beta of 1.30. The company has a current ratio of 1.42, a quick ratio of 1.42, and a debt ratio of 0.23. Mimecast has a twelve month low of $ 37.03 and a twelve month high of $ 59.96. The company’s fifty-day moving average is $ 55.65.
In other news, director Christopher Fitzgerald sold 2,000 shares of the company in a trade that took place on Friday, May 28. The stock was sold at an average price of $ 50.41, for a total trade of $ 100,820.00. As a result of the sale, the Director now directly owns 26,972 shares of the company, valued at $ 1,359,658.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. In addition, CEO Peter Bauer sold 7,500 shares of the company in a transaction that took place on Monday, June 7. The shares were sold for an average price of $ 50.84, for a total value of $ 381,300.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 194,364 shares of the company valued at $ 10,725,252. Company insiders own 8.00% of the shares of the company.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. ArrowMark Colorado Holdings LLC increased its stake in Mimecast by 172.7% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 2,461,909 shares of the tech company valued at $ 130,604,000 after purchasing an additional 1,559,026 shares in the last quarter. Lakewood Capital Management LP increased its stake in Mimecast by 393.4% in the 1st quarter. Lakewood Capital Management LP now owns 1,233,600 shares of the tech company valued at $ 49,603,000 after purchasing an additional 983,600 shares in the last quarter. Macquarie Group Ltd. increased its stake in Mimecast by 111.2% in the 2nd quarter. Macquarie Group Ltd. Now owns 1,848,725 shares of the tech company valued at $ 98,075,000 after purchasing an additional 973,404 shares last quarter. RGM Capital LLC acquired a new stake in Mimecast in the 2nd quarter valued at $ 35,382,000. Finally, Greenvale Capital LLP acquired a new stake in Mimecast in the 1st quarter for a value of $ 26,137,000. Institutional investors and hedge funds hold 69.09% of the company’s shares.
Mimecast Ltd. provides cloud security and risk management services for corporate information and email. It grows into a suite of cloud services designed to provide cyber resiliency for email and provide comprehensive email risk management beyond the primary email server. The company’s products help secure and store corporate communications and information to meet eDiscovery and compliance requirements.
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