$0.09 Earnings Per Share Expected for Mimecast Ltd (MIME) This Quarter

Wall Street analysts forecast that Mimecast Ltd (NASDAQ:MIME) will post $0.09 earnings per share for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Mimecast’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.17. Mimecast posted earnings of ($0.05) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 280%. The business is scheduled to announce its next earnings report on Monday, May 13th.

According to Zacks, analysts expect that Mimecast will report full-year earnings of $0.27 per share for the current financial year, with EPS estimates ranging from $0.21 to $0.35. For the next fiscal year, analysts forecast that the business will report earnings of $0.50 per share, with EPS estimates ranging from $0.37 to $0.81. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Mimecast.

Mimecast (NASDAQ:MIME) last posted its earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). Mimecast had a negative return on equity of 6.51% and a negative net margin of 4.14%. The firm had revenue of $87.61 million during the quarter, compared to analysts’ expectations of $84.80 million.

Several research firms have issued reports on MIME. Zacks Investment Research cut shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine upgraded shares of Mimecast from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Royal Bank of Canada raised their price objective on shares of Mimecast to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, February 12th. Oppenheimer raised their price objective on shares of Mimecast from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, February 12th. Finally, Deutsche Bank raised their price objective on shares of Mimecast to $52.00 and gave the company a “buy” rating in a research report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.93.

NASDAQ MIME traded down $1.30 on Friday, hitting $47.64. The stock had a trading volume of 1,176,740 shares, compared to its average volume of 564,411. Mimecast has a 52-week low of $29.67 and a 52-week high of $51.66. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.28. The stock has a market capitalization of $2.88 billion, a PE ratio of -250.74 and a beta of 1.00.

In related news, CFO Peter Andrew James Campbell sold 92,706 shares of Mimecast stock in a transaction on Monday, February 4th. The shares were sold at an average price of $39.33, for a total value of $3,646,126.98. Following the transaction, the chief financial officer now owns 215,000 shares in the company, valued at approximately $8,455,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher Fitzgerald sold 2,000 shares of Mimecast stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $35.83, for a total transaction of $71,660.00. Following the completion of the transaction, the director now owns 25,821 shares in the company, valued at approximately $925,166.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 298,409 shares of company stock worth $11,265,371. Corporate insiders own 29.00% of the company’s stock.

A number of large investors have recently modified their holdings of MIME. Raymond James & Associates raised its position in Mimecast by 49.3% in the 2nd quarter. Raymond James & Associates now owns 11,524 shares of the technology company’s stock worth $475,000 after purchasing an additional 3,803 shares during the period. California Public Employees Retirement System raised its position in Mimecast by 32.1% in the 2nd quarter. California Public Employees Retirement System now owns 35,058 shares of the technology company’s stock worth $1,445,000 after purchasing an additional 8,529 shares during the period. Advisors Asset Management Inc. purchased a new position in Mimecast in the 2nd quarter worth $238,000. Peregrine Capital Management LLC raised its position in Mimecast by 12.9% in the 3rd quarter. Peregrine Capital Management LLC now owns 448,277 shares of the technology company’s stock worth $18,774,000 after purchasing an additional 51,375 shares during the period. Finally, Simplex Trading LLC purchased a new position in Mimecast in the 3rd quarter worth $183,000. Institutional investors own 71.42% of the company’s stock.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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