MiX Telematics Limited (NYSE:MIXT) announced a dividend on Thursday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 20th will be given a dividend of 0.046 per share by the technology company on Tuesday, December 8th. The ex-dividend date is Thursday, November 19th.
MiX Telematics has a payout ratio of 83.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect MiX Telematics to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 71.4%.
Shares of MIXT opened at $9.54 on Tuesday. The company has a market capitalization of $237.77 million, a price-to-earnings ratio of 26.73 and a beta of 0.98. MiX Telematics has a fifty-two week low of $6.64 and a fifty-two week high of $14.92. The business’s 50-day moving average is $8.67 and its 200-day moving average is $8.99.
MIXT has been the subject of a number of recent analyst reports. Canaccord Genuity decreased their target price on MiX Telematics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Zacks Investment Research raised MiX Telematics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. MiX Telematics has an average rating of “Buy” and an average target price of $15.33.
In other news, EVP Gert Pretorius sold 254,515 shares of MiX Telematics stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $0.34, for a total transaction of $86,535.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 857,473 shares of company stock worth $291,727. Company insiders own 21.40% of the company’s stock.
MiX Telematics Company Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager used to track hardware products and other assets.
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