MiX Telematics Ltd – (NYSE:MIXT) announced a special dividend on Tuesday, November 6th, Wall Street Journal reports. Shareholders of record on Friday, November 23rd will be paid a dividend of 0.0529 per share by the technology company on Thursday, December 6th. This represents a yield of 1.26%. The ex-dividend date is Wednesday, November 21st.
MiX Telematics has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect MiX Telematics to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 21.9%.
Shares of MIXT stock opened at $17.92 on Wednesday. MiX Telematics has a fifty-two week low of $10.70 and a fifty-two week high of $21.00. The company has a market capitalization of $398.26 million, a price-to-earnings ratio of 30.90 and a beta of 0.43.
MiX Telematics (NYSE:MIXT) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.05. MiX Telematics had a return on equity of 13.30% and a net margin of 10.58%. The firm had revenue of $497.00 million during the quarter, compared to the consensus estimate of $459.37 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that MiX Telematics will post 0.6 EPS for the current fiscal year.
An institutional investor recently raised its position in MiX Telematics stock. Bank of New York Mellon Corp grew its holdings in shares of MiX Telematics Ltd – (NYSE:MIXT) by 48.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,515 shares of the technology company’s stock after buying an additional 39,348 shares during the period. Bank of New York Mellon Corp owned 0.53% of MiX Telematics worth $2,136,000 as of its most recent SEC filing. Institutional investors own 32.19% of the company’s stock.
Several research firms have recently issued reports on MIXT. Zacks Investment Research cut MiX Telematics from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. ValuEngine raised MiX Telematics from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. Finally, Raymond James raised MiX Telematics from an “outperform” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research note on Monday, August 20th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.67.
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MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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