$306.57 Million in Sales Expected for LogMeIn Inc (LOGM) This Quarter

Wall Street brokerages expect LogMeIn Inc (NASDAQ:LOGM) to post sales of $306.57 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for LogMeIn’s earnings. The lowest sales estimate is $306.33 million and the highest is $306.90 million. LogMeIn posted sales of $276.04 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings results on Thursday, February 21st.

On average, analysts expect that LogMeIn will report full year sales of $1.20 billion for the current financial year. For the next fiscal year, analysts forecast that the company will post sales of $1.26 billion, with estimates ranging from $1.25 billion to $1.26 billion. Zacks’ sales averages are an average based on a survey of analysts that follow LogMeIn.

LogMeIn (NASDAQ:LOGM) last announced its earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $309.58 million for the quarter, compared to the consensus estimate of $302.92 million. LogMeIn had a net margin of 12.16% and a return on equity of 7.19%.

Several research analysts have commented on LOGM shares. UBS Group raised shares of LogMeIn from a “market perform” rating to an “outperform” rating in a research note on Monday, October 1st. Piper Jaffray Companies decreased their price target on shares of LogMeIn from $95.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. Barclays lifted their price target on shares of LogMeIn from $105.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. Zacks Investment Research downgraded shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, ValuEngine raised shares of LogMeIn from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $110.10.

LOGM traded down $1.06 on Tuesday, reaching $86.75. The company had a trading volume of 1,096,924 shares, compared to its average volume of 565,126. The company has a market capitalization of $4.44 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62. LogMeIn has a 52-week low of $74.87 and a 52-week high of $134.80.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, November 13th. LogMeIn’s payout ratio is 35.82%.

In related news, Director Michael K. Simon sold 20,000 shares of LogMeIn stock in a transaction on Monday, September 10th. The shares were sold at an average price of $84.61, for a total value of $1,692,200.00. Following the transaction, the director now directly owns 636,966 shares of the company’s stock, valued at $53,893,693.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 60,000 shares of company stock worth $5,253,600. 2.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of LogMeIn by 1.4% in the third quarter. Vanguard Group Inc. now owns 4,579,956 shares of the software maker’s stock worth $408,073,000 after buying an additional 63,104 shares during the period. Nordea Investment Management AB boosted its holdings in LogMeIn by 58.0% in the third quarter. Nordea Investment Management AB now owns 74,140 shares of the software maker’s stock valued at $6,604,000 after acquiring an additional 27,204 shares in the last quarter. Teachers Advisors LLC boosted its holdings in LogMeIn by 1.4% in the third quarter. Teachers Advisors LLC now owns 122,710 shares of the software maker’s stock valued at $10,933,000 after acquiring an additional 1,642 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in LogMeIn by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 12,592 shares of the software maker’s stock valued at $1,122,000 after acquiring an additional 696 shares in the last quarter. Finally, Prospect Capital Advisors LLC bought a new stake in LogMeIn in the third quarter valued at $14,100,000. 97.97% of the stock is currently owned by institutional investors.

About LogMeIn

LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.

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