$0.32 EPS Expected for Carbonite, Inc. (CARB) This Quarter
Equities analysts expect Carbonite, Inc. (NASDAQ:CARB) to report $0.32 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Carbonite’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.30. Carbonite reported earnings of $0.12 per share in the same quarter last year, which indicates a positive year over year growth rate of 166.7%. 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 $0.77 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.78. For the next year, analysts expect that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.95 to $1.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Carbonite.
Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Carbonite had a negative net margin of 1.32% and a positive return on equity of 41.90%. The firm had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $61.49 million. During the same quarter last year, the company earned $0.14 EPS. Carbonite’s quarterly revenue was up 18.7% on a year-over-year basis.
Several equities analysts have recently weighed in on the stock. B. Riley restated a “buy” rating and set a $26.00 price objective on shares of Carbonite in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. JMP Securities assumed coverage on shares of Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price objective for the company. TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, Barclays PLC restated an “equal weight” rating and set a $27.00 price objective (up previously from $26.00) on shares of Carbonite in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $27.71.
In other Carbonite news, insider Cassandra Hudson sold 1,563 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $22.05, for a total value of $34,464.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total transaction of $154,425.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,622 shares of company stock valued at $218,978. Corporate insiders own 12.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in shares of Carbonite by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,317,700 shares of the technology company’s stock worth $50,526,000 after purchasing an additional 131,300 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Carbonite by 14.8% during the second quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock worth $36,757,000 after purchasing an additional 217,337 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Carbonite by 192.9% during the second quarter. Russell Investments Group Ltd. now owns 1,382,650 shares of the technology company’s stock worth $30,143,000 after purchasing an additional 910,533 shares during the period. Crosslink Capital Inc. boosted its holdings in shares of Carbonite by 7.2% during the second quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock worth $28,623,000 after purchasing an additional 87,900 shares during the period. Finally, Pembroke Management LTD boosted its holdings in shares of Carbonite by 2.4% during the second quarter. Pembroke Management LTD now owns 1,269,500 shares of the technology company’s stock worth $27,675,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 96.85% of the company’s stock.
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Carbonite (NASDAQ:CARB) traded down $0.20 during trading hours on Monday, hitting $23.80. 524,919 shares of the stock traded hands, compared to its average volume of 277,752. Carbonite has a one year low of $14.10 and a one year high of $27.00. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $667.18, a price-to-earnings ratio of 100.00, a price-to-earnings-growth ratio of 2.62 and a beta of 0.33.
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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