Mimecast Ltd (NASDAQ:MIME) Expected to Post Earnings of $0.12 Per Share

Analysts predict that Mimecast Ltd (NASDAQ:MIME) will post earnings per share (EPS) of $0.12 for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Mimecast’s earnings, with estimates ranging from $0.10 to $0.18. Mimecast reported earnings of $0.06 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 100%. The business is expected to report its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Mimecast will report full year earnings of $0.45 per share for the current fiscal year, with EPS estimates ranging from $0.39 to $0.53. For the next fiscal year, analysts anticipate that the business will report earnings of $0.70 per share, with EPS estimates ranging from $0.55 to $0.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Mimecast.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, August 5th. The technology company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.11. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The firm had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.32 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis.

Several research analysts recently weighed in on MIME shares. Robert W. Baird set a $58.00 target price on Mimecast and gave the stock a “buy” rating in a research note on Sunday, September 15th. Wedbush dropped their target price on Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. ValuEngine downgraded Mimecast from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. BidaskClub upgraded Mimecast from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Rosenblatt Securities started coverage on Mimecast in a research note on Wednesday, August 21st. They set a “buy” rating and a $57.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.67.

In other news, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $48.46, for a total value of $908,625.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $42.90, for a total value of $471,900.00. Following the completion of the sale, the chief operating officer now owns 12,251 shares in the company, valued at approximately $525,567.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 413,322 shares of company stock worth $17,777,749. Company insiders own 11.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Mimecast during the 2nd quarter worth approximately $32,000. Marshall Wace LLP acquired a new position in shares of Mimecast during the 1st quarter worth approximately $49,000. Advisor Group Inc. raised its position in shares of Mimecast by 39.1% during the 2nd quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock worth $64,000 after purchasing an additional 379 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mimecast during the 2nd quarter worth approximately $79,000. Finally, SG Americas Securities LLC acquired a new position in shares of Mimecast during the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

MIME stock traded up $1.63 on Friday, hitting $39.15. 14,108 shares of the company’s stock were exchanged, compared to its average volume of 696,306. Mimecast has a 12-month low of $29.67 and a 12-month high of $54.57. The firm has a 50 day moving average price of $39.40 and a two-hundred day moving average price of $45.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $2.41 billion, a P/E ratio of -558.71, a price-to-earnings-growth ratio of 62.08 and a beta of 1.17.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

Further Reading: SEC Filing

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Earnings History and Estimates for Mimecast (NASDAQ:MIME)

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