MiX Telematics Limited (NYSE:MIXT) announced a quarterly dividend on Tuesday, August 8th, NASDAQ reports. Investors of record on Friday, August 25th will be given a dividend of 0.036 per share by the technology company on Thursday, September 7th. This represents a $0.14 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is an increase from MiX Telematics Limited’s previous quarterly dividend of $0.01.
MiX Telematics Limited has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect MiX Telematics Limited to earn $0.32 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 43.8%.
MiX Telematics Limited (NYSE:MIXT) traded up 1.76% during mid-day trading on Friday, reaching $9.27. 34,542 shares of the company were exchanged. The firm has a market capitalization of $207.08 million, a P/E ratio of 23.18 and a beta of 0.85. MiX Telematics Limited has a 1-year low of $4.93 and a 1-year high of $9.29. 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 announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. MiX Telematics Limited had a return on equity of 8.56% and a net margin of 7.88%. The company had revenue of $31.08 million for the quarter, compared to analyst estimates of $31.22 million. Equities research analysts forecast that MiX Telematics Limited will post $0.38 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on MIXT shares. 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. TheStreet downgraded MiX Telematics Limited from a “b-” rating to a “c” rating in a report on Thursday, May 25th. Canaccord Genuity reiterated a “buy” rating and issued a $12.00 price target on shares of MiX Telematics Limited in a report on Thursday, August 3rd. Finally, ValuEngine downgraded MiX Telematics Limited from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. MiX Telematics Limited has an average rating of “Hold” and a consensus target price of $9.88.
MiX Telematics Limited announced that its Board of Directors has authorized a share buyback plan on Thursday, May 25th that permits the company to repurchase $20.10 million in shares. This repurchase authorization permits the technology company to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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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