MiX Telematics (NYSE:MIXT) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXTFree Report) in a research report released on Wednesday morning. The brokerage issued a buy rating on the technology company’s stock.

Separately, Raymond James increased their target price on MiX Telematics from $8.00 to $12.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th.

Check Out Our Latest Analysis on MIXT

MiX Telematics Price Performance

MIXT opened at $14.55 on Wednesday. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85. The stock has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The business has a 50 day moving average of $11.47 and a 200-day moving average of $8.39.

MiX Telematics (NYSE:MIXTGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MiX Telematics had a net margin of 3.72% and a return on equity of 8.45%. The business had revenue of $39.09 million during the quarter, compared to analyst estimates of $37.02 million. As a group, analysts expect that MiX Telematics will post 0.4 earnings per share for the current year.

MiX Telematics Cuts Dividend

The company also recently announced 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. The ex-dividend date was Thursday, February 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. MiX Telematics’s dividend payout ratio (DPR) is currently 72.00%.

Hedge Funds Weigh In On MiX Telematics

A number of large investors have recently made changes to their positions in MIXT. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics during the 4th quarter worth $1,753,000. Meros Investment Management LP increased its stake in MiX Telematics by 1.0% during 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. Prelude Capital Management LLC bought a new position in MiX Telematics during the 4th quarter worth $1,426,000. Black Maple Capital Management LP bought a new position in MiX Telematics during the 4th quarter worth $369,000. Finally, Cannell Capital LLC bought a new position in MiX Telematics during the 4th quarter worth $7,718,000. Institutional investors own 45.72% of the company’s stock.

MiX Telematics Company Profile

(Get Free Report)

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.

Further Reading

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