Brokerages forecast that LogMeIn Inc (NASDAQ:LOGM) will announce earnings per share of $1.13 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for LogMeIn’s earnings. The highest EPS estimate is $1.13 and the lowest is $1.11. LogMeIn reported earnings per share of $1.32 in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.4%. The company is scheduled to report its next earnings report on Thursday, July 25th.
On average, analysts expect that LogMeIn will report full-year earnings of $5.00 per share for the current fiscal year, with EPS estimates ranging from $4.97 to $5.02. For the next fiscal year, analysts forecast that the company will report earnings of $4.90 per share, with EPS estimates ranging from $4.69 to $5.10. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover LogMeIn.
LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.27. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The company had revenue of $307.70 million during the quarter, compared to the consensus estimate of $305.57 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year.
Several equities research analysts have recently weighed in on LOGM shares. Mizuho started coverage on LogMeIn in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $88.00 target price for the company. BidaskClub downgraded LogMeIn from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Northland Securities reissued a “buy” rating and issued a $125.00 price target on shares of LogMeIn in a report on Friday, March 22nd. ValuEngine downgraded LogMeIn from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, Barclays downgraded LogMeIn from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $104.00 to $74.00 in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $94.90.
In related news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $82.29, for a total value of $1,851,525.00. Following the completion of the transaction, the director now owns 531,864 shares of the company’s stock, valued at $43,767,088.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LOGM. Kohlberg Kravis Roberts & Co. L.P. raised its position in shares of LogMeIn by 272.7% during the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 813,676 shares of the software maker’s stock worth $66,372,000 after purchasing an additional 595,331 shares during the period. Norges Bank acquired a new position in shares of LogMeIn during the 4th quarter valued at $37,914,000. Epoch Investment Partners Inc. increased its position in shares of LogMeIn by 51.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock valued at $90,248,000 after purchasing an additional 374,020 shares during the period. Park West Asset Management LLC acquired a new position in shares of LogMeIn during the 4th quarter valued at $29,365,000. Finally, BlackRock Inc. increased its position in shares of LogMeIn by 7.9% during the 1st quarter. BlackRock Inc. now owns 4,906,972 shares of the software maker’s stock valued at $393,048,000 after purchasing an additional 359,569 shares during the period. 97.10% of the stock is currently owned by institutional investors.
Shares of NASDAQ LOGM traded up $1.12 on Thursday, hitting $74.78. The company had a trading volume of 573,964 shares, compared to its average volume of 512,969. LogMeIn has a 12-month low of $68.00 and a 12-month high of $112.53. The company has a 50 day moving average price of $72.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.81 and a beta of 1.05.
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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