Ebix, Inc. (EBIX) Expected to Post Quarterly Sales of $89.46 Million
Brokerages expect Ebix, Inc. (NASDAQ:EBIX) to post $89.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ebix’s earnings, with the highest sales estimate coming in at $90.00 million and the lowest estimate coming in at $88.91 million. Ebix posted sales of $74.61 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.9%. The company is scheduled to announce its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Ebix will report full year sales of $89.46 million for the current financial year, with estimates ranging from $345.83 million to $348.14 million. For the next financial year, analysts expect that the business will report sales of $385.50 million per share, with estimates ranging from $380.89 million to $390.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Ebix.
Ebix (NASDAQ:EBIX) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. Ebix had a return on equity of 22.02% and a net margin of 30.69%. The firm had revenue of $87.39 million for the quarter, compared to analysts’ expectations of $81.35 million.
EBIX has been the topic of a number of recent research reports. William Blair began coverage on Ebix in a research note on Wednesday, September 27th. They set an “outperform” rating on the stock. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Ebix from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Craig Hallum raised their target price on Ebix to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $80.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its stake in shares of Ebix by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,717 shares of the technology company’s stock worth $416,000 after purchasing an additional 20 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of Ebix by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,867 shares of the technology company’s stock worth $154,000 after purchasing an additional 32 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in shares of Ebix by 1.0% in the first quarter. Thrivent Financial For Lutherans now owns 12,190 shares of the technology company’s stock worth $747,000 after purchasing an additional 120 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Ebix by 1.0% in the second quarter. Texas Permanent School Fund now owns 15,886 shares of the technology company’s stock worth $856,000 after purchasing an additional 150 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Ebix by 0.4% in the first quarter. Legal & General Group Plc now owns 40,942 shares of the technology company’s stock worth $2,507,000 after purchasing an additional 173 shares during the last quarter. 62.30% of the stock is currently owned by institutional investors.
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Ebix (EBIX) opened at $68.85 on Monday. Ebix has a 12 month low of $52.40 and a 12 month high of $68.95. The stock has a market capitalization of $2,165.47, a PE ratio of 22.43, a PEG ratio of 2.25 and a beta of 1.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.25 and a current ratio of 2.25.
Ebix Company Profile
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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