Carbonite, Inc. (CARB) Expected to Post Earnings of $0.29 Per Share

Analysts predict that Carbonite, Inc. (NASDAQ:CARB) will announce $0.29 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Carbonite’s earnings, with estimates ranging from $0.28 to $0.30. Carbonite posted earnings per share of $0.12 in the same quarter last year, which would indicate a positive year-over-year growth rate of 141.7%. The firm is expected to announce its next earnings report 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 financial year, analysts forecast that the business will report earnings of $1.01 per share, with EPS estimates ranging from $0.87 to $1.07. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Carbonite.

Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $61.60 million during the quarter, compared to the consensus estimate of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS.

A number of equities research analysts recently weighed in on the company. Oppenheimer restated a “buy” rating and issued a $30.00 price target on shares of Carbonite in a report on Thursday, September 21st. JMP Securities assumed coverage on Carbonite in a report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price target on the stock. BidaskClub upgraded Carbonite from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Finally, Rosenblatt Securities assumed coverage on Carbonite in a report on Monday, September 18th. They issued a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Carbonite currently has a consensus rating of “Buy” and a consensus price target of $27.71.

In related news, Director Todd Krasnow sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.16, for a total value of $231,600.00. Following the sale, the director now owns 227,230 shares of the company’s stock, valued at approximately $5,262,646.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anthony Folger sold 7,992 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $23.45, for a total value of $187,412.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,804 shares of company stock worth $912,531. Insiders own 12.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its stake in Carbonite by 17.2% in the 2nd 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 in the last quarter. Legal & General Group Plc lifted its stake in Carbonite by 19.5% in the 2nd quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock valued at $132,000 after buying an additional 985 shares in the last quarter. B. Riley Financial Inc. lifted its stake in Carbonite by 3.9% in the 2nd quarter. B. Riley Financial Inc. now owns 27,670 shares of the technology company’s stock valued at $603,000 after buying an additional 1,030 shares in the last quarter. Brown Advisory Inc. lifted its stake in Carbonite by 24.4% in the 3rd quarter. Brown Advisory Inc. now owns 15,614 shares of the technology company’s stock valued at $344,000 after buying an additional 3,065 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its stake in Carbonite by 29.8% in the 2nd quarter. Nationwide Fund Advisors now owns 14,138 shares of the technology company’s stock valued at $308,000 after buying an additional 3,250 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.

Carbonite (CARB) opened at $26.00 on Tuesday. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12. Carbonite has a 52-week low of $15.90 and a 52-week high of $27.00. The stock has a market capitalization of $726.63, a P/E ratio of -236.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.37.

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About Carbonite

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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