Carbonite Inc (NASDAQ:CARB) Expected to Announce Earnings of $0.47 Per Share

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.

A number of brokerages have recently commented on CARB. Barclays began coverage on shares of Carbonite in a report on Thursday, March 28th. They issued an “overweight” rating and a $30.00 target price for the company. BidaskClub cut shares of Carbonite from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Zacks Investment Research cut shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. B. Riley set a $42.00 target price on shares of Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Craig Hallum set a $43.00 target price on shares of Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.62.

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.

About Carbonite

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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Earnings History and Estimates for Carbonite (NASDAQ:CARB)

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