MiX Telematics Limited (NYSE:MIXT) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c” rating in a note issued to investors on Thursday, May 25th.
MIXT has been the subject of several other reports. ValuEngine lowered shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Zacks Investment Research upgraded shares of MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research report on Tuesday, March 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $10.50 price target on shares of MiX Telematics Limited in a research report on Thursday, February 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. MiX Telematics Limited presently has an average rating of “Hold” and an average price target of $9.13.
MiX Telematics Limited (NYSE:MIXT) opened at 7.24 on Thursday. MiX Telematics Limited has a one year low of $4.30 and a one year high of $8.14. The firm has a market capitalization of $163.17 million, a P/E ratio of 19.31 and a beta of 0.87. The firm’s 50-day moving average price is $6.34 and its 200 day moving average price is $6.60.
MiX Telematics Limited (NYSE:MIXT) last posted its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 7.08%. The business had revenue of $29.18 million during the quarter, compared to analyst estimates of $27.81 million. On average, equities analysts anticipate that MiX Telematics Limited will post $0.02 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Monday, June 19th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, June 12th. MiX Telematics Limited’s dividend payout ratio is currently 31.43%.
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Several hedge funds have recently bought and sold shares of MIXT. Acadian Asset Management LLC raised its stake in MiX Telematics Limited by 123.6% in the first quarter. Acadian Asset Management LLC now owns 397,232 shares of the technology company’s stock worth $2,503,000 after buying an additional 219,616 shares in the last quarter. Renaissance Technologies LLC raised its stake in MiX Telematics Limited by 53.6% in the first quarter. Renaissance Technologies LLC now owns 543,510 shares of the technology company’s stock worth $3,424,000 after buying an additional 189,710 shares in the last quarter. Formula Growth Ltd. raised its stake in MiX Telematics Limited by 12.1% in the first quarter. Formula Growth Ltd. now owns 600,165 shares of the technology company’s stock worth $3,781,000 after buying an additional 64,574 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in MiX Telematics Limited during the first quarter worth $225,000. Finally, Russell Investments Group Ltd. raised its stake in 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 worth $123,000 after buying an additional 10,015 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.
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