MiX Telematics Limited (MIXT) Downgraded by ValuEngine – The Cerbat Gem

ValuEngine downgraded shares of MiX Telematics Limited (NYSE:MIXT) from a buy rating to a hold rating in a report published on Friday, May 26th.

Several other research analysts have also recently weighed in on MIXT. Zacks Investment Research upgraded shares of MiX Telematics Limited from a hold rating to a buy rating and set a $7.75 price objective for the company in a research report on Tuesday, March 21st. Canaccord Genuity restated a buy rating and issued a $10.50 price objective on shares of MiX Telematics Limited in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $9.13.

MiX Telematics Limited (NYSE:MIXT) traded up 1.41% on Friday, reaching $7.09. The company’s stock had a trading volume of 26,314 shares. The company has a market capitalization of $159.79 million, a price-to-earnings ratio of 18.91 and a beta of 0.87. The firm’s 50 day moving average price is $6.32 and its 200-day moving average price is $6.59. MiX Telematics Limited has a 52 week low of $4.30 and a 52 week high of $8.14.

MiX Telematics Limited (NYSE:MIXT) last announced its earnings results on Thursday, May 25th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The business had revenue of $29.18 million for the quarter, compared to the consensus estimate of $27.81 million. MiX Telematics Limited had a return on equity of 7.08% and a net margin of 7.88%. On average, equities analysts predict that MiX Telematics Limited will post $0.02 EPS for the current year.

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The firm also recently announced a dividend, which will be paid on Monday, June 19th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 12th. MiX Telematics Limited’s payout ratio is 31.43%.

Several hedge funds have recently modified their holdings of MIXT. Russell Investments Group Ltd. boosted its stake in shares of 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 acquired a new stake in shares of MiX Telematics Limited during the first quarter valued at approximately $225,000. Bank of New York Mellon Corp boosted its stake 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 valued at $367,000 after buying an additional 1,715 shares during the last quarter. Blair William & Co. IL boosted its stake 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 valued at $403,000 after buying an additional 340 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in 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. Institutional investors own 14.37% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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