MiX Telematics (NYSE:MIXT) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a report issued on Thursday morning. The brokerage issued a buy rating on the technology company’s stock.

Separately, Raymond James lifted their price target on shares of MiX Telematics from $8.00 to $12.00 and gave the company an outperform rating in a report on Wednesday, March 13th.

MiX Telematics Stock Performance

Shares of MiX Telematics stock opened at $14.55 on Thursday. MiX Telematics has a 52-week low of $4.75 and a 52-week high of $14.85. The stock has a market capitalization of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The company’s 50 day moving average price is $11.87 and its 200-day moving average price is $8.64.

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

MiX Telematics Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were issued a $0.0603 dividend. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, February 22nd. MiX Telematics’s dividend payout ratio (DPR) is currently 72.00%.

Institutional Trading of MiX Telematics

Several large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in shares of MiX Telematics during the 4th quarter valued at $43,000. Bank of America Corp DE raised its position in MiX Telematics by 105.8% in 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 during the last quarter. Commonwealth Equity Services LLC purchased a new position in MiX Telematics in the 1st quarter worth about $79,000. State Street Corp purchased a new position in MiX Telematics in the 3rd quarter worth about $117,000. Finally, Envestnet Asset Management Inc. purchased a new position in MiX Telematics in the 1st quarter worth about $175,000. Institutional investors own 45.72% of the company’s stock.

MiX Telematics Company Profile

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.