Analysts expect LogMeIn Inc (NASDAQ:LOGM) to announce $311.00 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for LogMeIn’s earnings. The lowest sales estimate is $310.20 million and the highest is $311.40 million. LogMeIn posted sales of $305.65 million in the same quarter last year, which suggests a positive year over year growth rate of 1.8%. The firm is scheduled to announce its next quarterly earnings results on Thursday, July 25th.
According to Zacks, analysts expect that LogMeIn will report full year sales of $1.26 billion for the current year. For the next year, analysts expect that the firm will report sales of $1.32 billion, with estimates ranging from $1.31 billion to $1.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover LogMeIn.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.27. The business had revenue of $307.70 million during the quarter, compared to the consensus estimate of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS.
A number of analysts have recently commented on LOGM shares. BidaskClub upgraded LogMeIn from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 13th. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Needham & Company LLC downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Friday, February 15th. ValuEngine downgraded LogMeIn from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, Oppenheimer downgraded LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Friday, February 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. LogMeIn currently has an average rating of “Hold” and a consensus price target of $94.90.
Shares of LOGM stock traded down $1.36 on Thursday, reaching $70.78. 337,787 shares of the stock were exchanged, compared to its average volume of 734,889. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.49 and a beta of 1.11. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.10. LogMeIn has a 1-year low of $69.18 and a 1-year high of $114.45.
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Wednesday, May 8th were issued a $0.325 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.30 annualized dividend and a yield of 1.84%. LogMeIn’s dividend payout ratio is currently 28.57%.
In related news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $75.79, for a total value of $1,705,275.00. Following the completion of the sale, the director now directly owns 504,753 shares in the company, valued at approximately $38,255,229.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LOGM. Kohlberg Kravis Roberts & Co. L.P. increased its holdings in LogMeIn by 272.7% in the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 813,676 shares of the software maker’s stock valued at $66,372,000 after purchasing an additional 595,331 shares in the last quarter. Norges Bank acquired a new stake in shares of LogMeIn during the fourth quarter valued at about $37,914,000. Epoch Investment Partners Inc. grew its stake in shares of LogMeIn by 51.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock valued at $90,248,000 after acquiring an additional 374,020 shares in the last quarter. Park West Asset Management LLC acquired a new stake in shares of LogMeIn during the fourth quarter valued at about $29,365,000. Finally, BlackRock Inc. grew its stake in shares of LogMeIn by 7.9% during the first quarter. BlackRock Inc. now owns 4,906,972 shares of the software maker’s stock valued at $393,048,000 after acquiring an additional 359,569 shares in the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.
LogMeIn Company Profile
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
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