Wall Street analysts expect LogMeIn Inc (NASDAQ:LOGM) to post earnings of $0.53 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for LogMeIn’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.54. LogMeIn posted earnings of $0.13 per share in the same quarter last year, which suggests a positive year over year growth rate of 307.7%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, May 4th.
According to Zacks, analysts expect that LogMeIn will report full year earnings of $2.78 per share for the current year, with EPS estimates ranging from $2.75 to $2.81. For the next financial year, analysts expect that the business will report earnings of $3.91 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow LogMeIn.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Tuesday, February 28th. The software maker reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.25. The company earned $88 million during the quarter, compared to analyst estimates of $87.37 million. LogMeIn had a net margin of 2.16% and a return on equity of 13.40%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS.
LOGM has been the subject of several analyst reports. TheStreet upgraded shares of LogMeIn from a “c+” rating to a “b-” rating in a research report on Thursday, February 2nd. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of LogMeIn in a research report on Friday, March 10th. Cowen and Company upgraded shares of LogMeIn from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $115.00 in a research report on Friday, April 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target (up previously from $70.00) on shares of LogMeIn in a research report on Sunday, February 5th. Finally, Barclays PLC lifted their price target on shares of LogMeIn from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $111.96.
LogMeIn (NASDAQ:LOGM) traded down 0.44% on Thursday, reaching $113.00. 761,765 shares of the company’s stock traded hands. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 1130.00 and a beta of 1.24. LogMeIn has a 52-week low of $56.11 and a 52-week high of $113.85. The stock’s 50 day moving average is $101.25 and its 200 day moving average is $99.41.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Wednesday, May 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, May 8th.
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In related news, CEO William Raymond Wagner sold 8,750 shares of LogMeIn stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $96.56, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $5,209,701.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael K. Simon sold 70,000 shares of LogMeIn stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $97.58, for a total transaction of $6,830,600.00. Following the transaction, the director now directly owns 832,448 shares in the company, valued at approximately $81,230,275.84. The disclosure for this sale can be found here. Insiders have sold a total of 86,471 shares of company stock worth $8,421,117 in the last three months. 1.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in LogMeIn by 1.0% in the first quarter. Diversified Trust Co now owns 2,726 shares of the software maker’s stock valued at $266,000 after buying an additional 26 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in LogMeIn by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,550 shares of the software maker’s stock valued at $502,000 after buying an additional 90 shares during the last quarter. Louisiana State Employees Retirement System raised its position in LogMeIn by 0.9% in the third quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the software maker’s stock valued at $1,012,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System raised its position in LogMeIn by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 37,050 shares of the software maker’s stock valued at $3,577,000 after buying an additional 100 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in LogMeIn by 1.4% in the third quarter. State of Tennessee Treasury Department now owns 19,943 shares of the software maker’s stock valued at $1,803,000 after buying an additional 280 shares during the last quarter.
LogMeIn Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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