Weekly Research Analysts’ Ratings Changes for MiX Telematics (MIXT)

MiX Telematics (NYSE: MIXT) recently received a number of ratings updates from brokerages and research firms:

• 3/25/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/17/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/13/2024 – MiX Telematics had its price target raised by analysts at Raymond James from $8.00 to $12.00. They now have an “outperform” rating on the stock.
• 3/9/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/1/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 2/22/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 2/14/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 2/6/2024 – MiX Telematics is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

MiX Telematics Stock Performance

MIXT stock opened at $14.55 on Thursday. The firm has a market capitalization of $353.71 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The company’s 50 day moving average price is $10.10 and its 200 day moving average price is $7.69. MiX Telematics Limited has a fifty-two week low of $4.75 and a fifty-two week high of $14.85.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $39.09 million for the quarter, compared to analysts’ expectations of $37.02 million. MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. Equities analysts forecast that MiX Telematics Limited will post 0.4 EPS for the current fiscal year.

MiX Telematics Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.0603 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, February 22nd. MiX Telematics’s dividend payout ratio is currently 76.00%.

Institutional Trading of MiX Telematics

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in MiX Telematics by 7.9% in the 1st quarter. Royal Bank of Canada now owns 17,248 shares of the technology company’s stock valued at $193,000 after acquiring an additional 1,263 shares during the period. Dimensional Fund Advisors LP grew its position in MiX Telematics by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 107,768 shares of the technology company’s stock valued at $1,210,000 after buying an additional 1,881 shares in the last quarter. State Street Corp increased its stake in MiX Telematics by 13.1% during the 2nd quarter. State Street Corp now owns 18,857 shares of the technology company’s stock valued at $119,000 after buying an additional 2,184 shares during the period. Bank of America Corp DE raised its position in shares of MiX Telematics by 105.8% during the 1st quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock worth $48,000 after buying an additional 3,175 shares in the last quarter. Finally, Meros Investment Management LP lifted its stake in shares of MiX Telematics by 1.0% in the 4th quarter. Meros Investment Management LP now owns 452,894 shares of the technology company’s stock worth $3,899,000 after acquiring an additional 4,349 shares during the period. 45.72% of the stock is owned by hedge funds and other institutional investors.

MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.