MiX Telematics (NYSE:MIXT) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a research note issued to investors on Monday morning. The firm issued a buy rating on the technology company’s stock.

Separately, Raymond James raised their target price on MiX Telematics from $8.00 to $12.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th.

MiX Telematics Price Performance

Shares of NYSE MIXT opened at $14.55 on Monday. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85. The firm has a 50-day moving average of $10.22 and a 200 day moving average of $7.73. The stock has a market cap of $353.71 million, a P/E ratio of 58.20 and a beta of 1.15.

MiX Telematics (NYSE:MIXT) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. The company had revenue of $39.09 million during the quarter, compared to the consensus estimate of $37.02 million. Research analysts expect that MiX Telematics will post 0.4 earnings per share for the current fiscal year.

MiX Telematics Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.0603 per share. This represents a $0.24 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, February 22nd. MiX Telematics’s dividend payout ratio is presently 76.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIXT. FNY Investment Advisers LLC purchased a new stake in MiX Telematics in the 4th quarter worth approximately $43,000. Bank of America Corp DE lifted its stake in shares of MiX Telematics by 105.8% during the 1st quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock valued at $48,000 after buying an additional 3,175 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in MiX Telematics in the 1st quarter worth $79,000. State Street Corp purchased a new stake in MiX Telematics in the 3rd quarter worth $117,000. Finally, Envestnet Asset Management Inc. bought a new stake in MiX Telematics during the first quarter valued at about $175,000. Institutional investors own 45.72% of the company’s stock.

About MiX Telematics

MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.