$80.08 Million in Sales Expected for Carbonite Inc (CARB) This Quarter
Wall Street brokerages predict that Carbonite Inc (NASDAQ:CARB) will announce sales of $80.08 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Carbonite’s earnings. The lowest sales estimate is $79.90 million and the highest is $80.40 million. Carbonite reported sales of $61.69 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.8%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 12th.
According to Zacks, analysts expect that Carbonite will report full-year sales of $303.97 million for the current fiscal year, with estimates ranging from $303.80 million to $304.30 million. For the next financial year, analysts expect that the company will post sales of $336.81 million, with estimates ranging from $329.50 million to $344.59 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Carbonite.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. The company had revenue of $79.10 million during the quarter, compared to analyst estimates of $80.15 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis.
Shares of CARB opened at $27.61 on Thursday. Carbonite has a one year low of $20.50 and a one year high of $43.63. The stock has a market capitalization of $979.03 million, a price-to-earnings ratio of 55.22, a PEG ratio of 1.26 and a beta of 0.69.
In related news, Director Scott Andrew Daniels purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $55,140.00. Following the completion of the acquisition, the director now owns 42,070 shares in the company, valued at approximately $1,159,869.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Danielle Sheer sold 14,480 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $43.19, for a total transaction of $625,391.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,176 shares of company stock valued at $2,744,831. Corporate insiders own 9.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Carbonite by 30.4% during the third quarter. Vanguard Group Inc. now owns 1,866,217 shares of the technology company’s stock worth $66,531,000 after purchasing an additional 435,554 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Carbonite by 46.2% during the third quarter. Nordea Investment Management AB now owns 119,897 shares of the technology company’s stock worth $4,276,000 after purchasing an additional 37,862 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Carbonite by 25.7% during the third quarter. Teachers Advisors LLC now owns 60,241 shares of the technology company’s stock worth $2,148,000 after purchasing an additional 12,326 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Carbonite by 81.9% during the third quarter. MetLife Investment Advisors LLC now owns 21,762 shares of the technology company’s stock worth $776,000 after purchasing an additional 9,797 shares during the period. Finally, Kiwi Wealth Investments Limited Partnership acquired a new stake in shares of Carbonite during the third quarter worth approximately $1,266,000.
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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