Brokerages Anticipate Carbonite, Inc. (CARB) Will Post Earnings of $0.29 Per Share

Equities analysts predict that Carbonite, Inc. (NASDAQ:CARB) will report earnings of $0.29 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Carbonite’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.30. Carbonite reported earnings per share of $0.12 during the same quarter last year, which suggests a positive year over year growth rate of 141.7%. The firm is expected to announce its next earnings results on Thursday, February 8th.

On average, analysts expect that Carbonite will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.77 to $0.79. For the next year, analysts anticipate that the firm will report earnings of $1.01 per share, with EPS estimates ranging from $0.87 to $1.07. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Carbonite.

Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. Carbonite’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share.

CARB has been the topic of a number of recent analyst reports. Rosenblatt Securities initiated coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer reaffirmed a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. JMP Securities initiated coverage on Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.71.

In related news, CFO Anthony Folger sold 6,008 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $22.31, for a total transaction of $134,038.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Todd Krasnow sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $23.16, for a total value of $231,600.00. Following the transaction, the director now directly owns 227,230 shares in the company, valued at $5,262,646.80. The disclosure for this sale can be found here. Insiders have sold 37,864 shares of company stock worth $862,479 over the last three months. 12.20% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CARB. Quantbot Technologies LP raised its position in Carbonite by 17.2% during the second quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock valued at $118,000 after buying an additional 800 shares during the period. Legal & General Group Plc grew its stake in Carbonite by 19.5% in the second quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock valued at $132,000 after purchasing an additional 985 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Carbonite by 167.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,370 shares of the technology company’s stock valued at $162,000 after purchasing an additional 4,612 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Carbonite in the second quarter valued at about $231,000. Finally, Voya Investment Management LLC purchased a new position in Carbonite in the second quarter valued at about $236,000. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Carbonite (NASDAQ:CARB) traded down $0.20 during trading on Friday, hitting $25.10. The stock had a trading volume of 174,720 shares, compared to its average volume of 217,062. The firm has a market capitalization of $707.07, a price-to-earnings ratio of -228.18, a PEG ratio of 2.57 and a beta of 0.38. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. Carbonite has a 12 month low of $15.30 and a 12 month high of $27.00.

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Carbonite Company Profile

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

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