MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model. The company offers MiX Fleet Manager, a web-based application, which provides commercial fleet management solution that gives user live and historical views of driver and vehicle performance information, including vehicle tracking and status information, as well as alerts and notifications; MiX Asset Manager, a portfolio of asset tracking products comprising generators, light towers, storage tanks, and pumps; and Matrix, a mobile asset management solutions that offers real-time and historical vehicle tracking and positioning, unauthorized vehicle use alerts, panic emergency response, crash alerts, driver behavior alerts, fuel tax logbooks, and vehicle maintenance notifications for entry-level fleets and consumers. It also provides Beam-e, a crowdsourcing platform to locate vehicles without the expense of utilizing a traditional cellular network connection, and entry-level tracking and recovery services; MiX Now, a system that helps companies monitor and manage the behavior and performance of their vehicles and drivers. It delivers fleet and mobile asset management solutions as SaaS to 815,165 subscribers in South Africa, the Americas, the Middle East, Australia, Europe, and Brazil. MiX Telematics Limited was founded in 1996 and is headquartered in Boca Raton, Florida.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Canaccord Genuity Group lowered their price objective on shares of MiX Telematics from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, July 29th. StockNews.com assumed coverage on shares of MiX Telematics in a research report on Saturday. They set a "buy" rating for the company.
MiX Telematics Price Performance
Shares of MIXT opened at $8.25 on Tuesday. MiX Telematics has a one year low of $6.75 and a one year high of $14.43. The company has a market cap of $182.30 million, a P/E ratio of 29.46 and a beta of 0.88. The firm has a 50 day simple moving average of $8.34 and a two-hundred day simple moving average of $10.17.
MiX Telematics (NYSE:MIXT - Get Rating) last posted its earnings results on Thursday, July 28th. The technology company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $35.06 million for the quarter, compared to analysts' expectations of $34.68 million. MiX Telematics had a net margin of 4.25% and a return on equity of 6.61%. On average, analysts expect that MiX Telematics will post 0.4 earnings per share for the current fiscal year.
MiX Telematics Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 19th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, August 18th. This is a boost from MiX Telematics's previous quarterly dividend of $0.05. MiX Telematics's payout ratio is presently 67.86%.
Insiders Place Their Bets
In related news, Director Ian Jacobs bought 351,525 shares of the firm's stock in a transaction on Monday, June 13th. The shares were purchased at an average price of $0.39 per share, with a total value of $137,094.75. Following the completion of the purchase, the director now owns 34,096,150 shares in the company, valued at approximately $13,297,498.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 555,225 shares of company stock valued at $218,444 and have sold 40,381 shares valued at $13,016. Insiders own 27.80% of the company's stock.