Brokerages Set MiX Telematics Limited (MIXT) PT at $12.00

Shares of MiX Telematics Limited (NYSE:MIXT) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $12.00.

MIXT has been the subject of several research analyst reports. ValuEngine cut MiX Telematics Limited from a “buy” rating to a “hold” rating in a report on Friday, May 26th. TheStreet cut MiX Telematics Limited from a “b-” rating to a “c” rating in a report on Thursday, May 25th. Zacks Investment Research upgraded MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Tuesday, May 30th. Finally, Canaccord Genuity restated a “buy” rating and set a $12.00 price target on shares of MiX Telematics Limited in a report on Thursday, August 3rd.

MiX Telematics Limited (NYSE MIXT) traded up 0.65% on Friday, reaching $9.33. The company’s stock had a trading volume of 35,178 shares. The stock has a market cap of $208.42 million, a P/E ratio of 23.32 and a beta of 0.85. MiX Telematics Limited has a one year low of $4.93 and a one year high of $9.35. The stock has a 50-day moving average of $8.36 and a 200-day moving average of $7.19.

MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $31.08 million during the quarter, compared to analysts’ expectations of $31.22 million. MiX Telematics Limited had a return on equity of 8.56% and a net margin of 7.88%. On average, analysts predict that MiX Telematics Limited will post $0.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 25th will be paid a $0.036 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.55%. This is a positive change from MiX Telematics Limited’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 23rd. MiX Telematics Limited’s dividend payout ratio (DPR) is presently 28.21%.

MiX Telematics Limited announced that its board has initiated a stock repurchase plan on Thursday, May 25th that authorizes the company to repurchase $20.10 million in shares. This repurchase authorization authorizes the technology company to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Large investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC raised 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 valued at $2,113,000 after buying an additional 2,778 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of 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. Russell Investments Group Ltd. raised 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 worth $123,000 after buying an additional 10,015 shares in the last quarter. Bank of New York Mellon Corp raised 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 worth $367,000 after buying an additional 1,715 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in shares of MiX Telematics Limited during the first quarter worth about $225,000. 15.98% of the stock is owned by institutional investors and hedge funds.

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MiX Telematics Limited Company Profile

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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