LogMein, Inc. (LOGM) Expected to Post Quarterly Sales of $277.55 Million
Brokerages expect LogMein, Inc. (NASDAQ:LOGM) to post $277.55 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for LogMein’s earnings. The highest sales estimate is $277.79 million and the lowest is $277.40 million. LogMein reported sales of $87.97 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 215.5%. The company is expected to report its next earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that LogMein will report full-year sales of $277.55 million for the current fiscal year. For the next financial year, analysts forecast that the firm will post sales of $1.17 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow LogMein.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. The business had revenue of $269.30 million for the quarter, compared to the consensus estimate of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The business’s quarterly revenue was up 216.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating and set a $130.00 price target on shares of LogMein in a report on Friday, September 1st. Barclays boosted their target price on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Cowen reissued a “buy” rating and issued a $134.00 target price on shares of LogMein in a report on Friday, September 1st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $170.00 price target on shares of LogMein in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $135.96.
Shares of LogMein (NASDAQ:LOGM) traded down $0.40 during midday trading on Wednesday, hitting $118.75. The stock had a trading volume of 953,023 shares, compared to its average volume of 408,073. LogMein has a twelve month low of $90.35 and a twelve month high of $129.51. The firm has a market capitalization of $6,271.78, a PE ratio of 44.46, a PEG ratio of 2.07 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Tuesday, November 7th. LogMein’s dividend payout ratio is presently 909.17%.
In other LogMein news, insider Christopher Battles sold 1,136 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the transaction, the insider now owns 2,760 shares of the company’s stock, valued at approximately $329,626.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in LOGM. Parametric Portfolio Associates LLC lifted its position in shares of LogMein by 2.9% during the third quarter. Parametric Portfolio Associates LLC now owns 112,955 shares of the software maker’s stock worth $12,431,000 after purchasing an additional 3,139 shares during the last quarter. AXA bought a new position in LogMein in the third quarter worth about $6,042,000. Neuberger Berman Group LLC lifted its holdings in LogMein by 16.3% in the third quarter. Neuberger Berman Group LLC now owns 245,215 shares of the software maker’s stock worth $26,986,000 after acquiring an additional 34,451 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in LogMein by 31.4% in the third quarter. Cubist Systematic Strategies LLC now owns 26,593 shares of the software maker’s stock worth $2,927,000 after acquiring an additional 6,360 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in LogMein in the third quarter worth about $322,000. Institutional investors own 99.32% of the company’s stock.
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LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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