Equities research analysts expect Carbonite Inc (NASDAQ:CARB) to announce earnings per share (EPS) of $0.47 for the current quarter, Zacks reports. Six analysts have provided estimates for Carbonite’s earnings, with estimates ranging from $0.43 to $0.50. Carbonite reported earnings of $0.45 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The business is scheduled to announce its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Carbonite will report full year earnings of $1.83 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.91. For the next financial year, analysts forecast that the business will report earnings of $2.13 per share, with EPS estimates ranging from $1.92 to $2.28. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Carbonite.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.18. Carbonite had a negative net margin of 0.76% and a positive return on equity of 21.93%. The firm had revenue of $81.20 million during the quarter, compared to analysts’ expectations of $77.36 million. During the same period in the previous year, the company earned $0.27 earnings per share. Carbonite’s quarterly revenue was up 26.9% compared to the same quarter last year.
In other news, CEO Mohamad Ali sold 7,199 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $13.31, for a total transaction of $95,818.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 1,612 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $23.65, for a total transaction of $38,123.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,741 shares of company stock worth $1,051,705. Company insiders own 8.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC grew its position in Carbonite by 2,085.9% during the first quarter. Quantamental Technologies LLC now owns 2,951 shares of the technology company’s stock worth $73,000 after buying an additional 2,816 shares during the period. Advisor Group Inc. grew its position in Carbonite by 21.7% during the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock worth $82,000 after buying an additional 570 shares during the period. Great West Life Assurance Co. Can grew its position in Carbonite by 97.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,143 shares of the technology company’s stock worth $101,000 after buying an additional 2,043 shares during the period. Legal & General Group Plc grew its position in Carbonite by 13.7% during the fourth quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock worth $144,000 after buying an additional 687 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Carbonite during the first quarter worth about $213,000.
Shares of NASDAQ:CARB opened at $26.04 on Friday. The company has a 50-day simple moving average of $24.11. Carbonite has a one year low of $21.83 and a one year high of $43.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $897.00 million, a PE ratio of 20.83, a price-to-earnings-growth ratio of 0.91 and a beta of 0.69.
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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