Analysts Expect Carbonite (CARB) to Post $0.37 EPS

Analysts predict that Carbonite (NASDAQ:CARB) will report earnings of $0.37 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Carbonite’s earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.36. Carbonite reported earnings of $0.15 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 146.7%. The firm is expected to announce its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Carbonite will report full-year earnings of $1.54 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.55. For the next financial year, analysts forecast that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.69 to $1.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Carbonite.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Monday, May 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $64.03 million for the quarter, compared to analysts’ expectations of $63.51 million. Carbonite had a return on equity of 35.49% and a net margin of 0.14%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share.

Several equities analysts have weighed in on the company. Zacks Investment Research lowered Carbonite from a “buy” rating to a “hold” rating in a research note on Thursday, April 5th. B. Riley increased their target price on Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. JMP Securities raised Carbonite to an “outperform” rating in a research note on Sunday, April 29th. BidaskClub lowered Carbonite from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $31.00 price target on shares of Carbonite in a research report on Sunday, May 6th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Carbonite presently has an average rating of “Buy” and a consensus price target of $33.63.

In related news, SVP Norman Guadagno sold 13,834 shares of Carbonite stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $30.86, for a total value of $426,917.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marina Levinson sold 4,352 shares of Carbonite stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $35.14, for a total value of $152,929.28. Following the completion of the sale, the director now directly owns 17,791 shares in the company, valued at approximately $625,175.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,526 shares of company stock worth $1,284,980. 9.80% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in CARB. We Are One Seven LLC acquired a new stake in Carbonite in the 4th quarter valued at approximately $148,000. Fortaleza Asset Management Inc. acquired a new stake in Carbonite in the 4th quarter valued at approximately $167,000. Koch Industries Inc. acquired a new stake in Carbonite in the 1st quarter valued at approximately $201,000. New England Private Wealth Advisors LLC acquired a new stake in Carbonite in the 1st quarter valued at approximately $202,000. Finally, Moors & Cabot Inc. acquired a new stake in Carbonite in the 4th quarter valued at approximately $220,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

Carbonite stock opened at $35.20 on Tuesday. The stock has a market capitalization of $991.82 million, a P/E ratio of 66.73, a PEG ratio of 0.84 and a beta of 0.17. Carbonite has a 12-month low of $34.00 and a 12-month high of $34.50. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 3.02.

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 that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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