MiX Telematics (NYSE:MIXT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research note published on Thursday morning. The brokerage issued a buy rating on the technology company’s stock.

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

MiX Telematics Price Performance

MiX Telematics stock opened at $14.55 on Thursday. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85. The firm’s fifty day moving average is $11.87 and its 200 day moving average is $8.64. The company has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15.

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

MiX Telematics Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date was Thursday, February 22nd. This represents a $0.24 annualized dividend and a yield of 1.66%. MiX Telematics’s payout ratio is 72.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MIXT. Cannell Capital LLC acquired a new position in MiX Telematics during the fourth quarter worth $7,718,000. Parallax Volatility Advisers L.P. raised its holdings in MiX Telematics by 130.0% during the second quarter. Parallax Volatility Advisers L.P. now owns 74,947 shares of the technology company’s stock worth $610,000 after buying an additional 324,568 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in MiX Telematics during the fourth quarter worth $1,753,000. Hsbc Holdings PLC acquired a new position in MiX Telematics during the fourth quarter worth $1,757,000. Finally, Prelude Capital Management LLC acquired a new position in MiX Telematics during the fourth quarter worth $1,426,000. Institutional investors and hedge funds 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.