MiX Telematics Limited (NYSE:MIXT) Upgraded by TheStreet to “B-“

TheStreet upgraded shares of MiX Telematics Limited (NYSE:MIXT) from a c+ rating to a b- rating in a research note released on Tuesday, July 11th.

Several other research firms also recently commented on MIXT. ValuEngine downgraded shares of MiX Telematics Limited from a buy rating to a hold rating in a report on Friday, May 26th. Zacks Investment Research downgraded shares of MiX Telematics Limited from a buy rating to a hold rating in a report on Saturday, March 18th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. MiX Telematics Limited currently has an average rating of Hold and a consensus target price of $9.88.

MiX Telematics Limited (MIXT) opened at 8.64 on Tuesday. MiX Telematics Limited has a 52-week low of $4.93 and a 52-week high of $8.83. The company has a market capitalization of $193.01 million, a P/E ratio of 21.60 and a beta of 0.85. The firm has a 50-day moving average of $8.20 and a 200 day moving average of $7.13.

MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $31.08 million for the quarter, compared to the consensus estimate of $31.22 million. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 8.56%. Equities analysts predict that MiX Telematics Limited will post $0.02 earnings per share for the current fiscal year.

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MiX Telematics Limited declared that its board has initiated a stock repurchase plan on Thursday, May 25th that permits the company to repurchase $20.10 million in shares. This repurchase authorization permits the technology company to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 25th will be issued a $0.036 dividend. This is an increase from MiX Telematics Limited’s previous quarterly dividend of $0.01. This represents a $0.14 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, August 23rd. MiX Telematics Limited’s dividend payout ratio is 28.21%.

Institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its position in MiX Telematics Limited by 47.6% in the second quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock valued at $164,000 after buying an additional 6,708 shares in the last quarter. Ameriprise Financial Inc. boosted its position in MiX Telematics Limited by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 198,522 shares of the technology company’s stock valued at $1,564,000 after buying an additional 4,727 shares in the last quarter. JPMorgan Chase & Co. boosted its position in MiX Telematics Limited by 84.4% in the second quarter. JPMorgan Chase & Co. now owns 23,844 shares of the technology company’s stock valued at $188,000 after buying an additional 10,912 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in MiX Telematics Limited during the second quarter valued at about $1,022,000. Finally, Royce & Associates LP boosted its position in MiX Telematics Limited by 2,095.6% in the second quarter. Royce & Associates LP now owns 57,985 shares of the technology company’s stock valued at $457,000 after buying an additional 55,344 shares in the last quarter. Hedge funds and other institutional investors own 15.05% of the company’s stock.

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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