Wall Street brokerages forecast that Zix Corporation (NASDAQ:ZIXI) will announce sales of $16.83 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Zix Corporation’s earnings. The highest sales estimate is $16.85 million and the lowest is $16.81 million. Zix Corporation reported sales of $15.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.9%. The business is expected to issue its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that Zix Corporation will report full year sales of $16.83 million for the current fiscal year, with estimates ranging from $66.37 million to $66.43 million. For the next year, analysts expect that the company will report sales of $73.29 million per share, with estimates ranging from $72.50 million to $74.08 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Zix Corporation.

Zix Corporation (NASDAQ:ZIXI) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Zix Corporation had a return on equity of 16.24% and a net margin of 10.48%. The business had revenue of $16.38 million for the quarter, compared to analysts’ expectations of $16.34 million. During the same period in the previous year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis.

ZIXI has been the subject of several recent research reports. BidaskClub lowered shares of Zix Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded shares of Zix Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Imperial Capital downgraded shares of Zix Corporation from an “outperform” rating to an “in-line” rating and set a $6.50 price target for the company. in a report on Tuesday, June 13th. Finally, Dougherty & Co reissued a “buy” rating and issued a $7.00 price target (up from $5.50) on shares of Zix Corporation in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.08.

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Shares of Zix Corporation (NASDAQ:ZIXI) traded down 2.08% on Thursday, reaching $4.70. 210,130 shares of the company’s stock traded hands. The company has a 50 day moving average of $5.13 and a 200-day moving average of $5.39. The stock has a market capitalization of $254.31 million, a PE ratio of 39.17 and a beta of 1.36. Zix Corporation has a 52 week low of $3.91 and a 52 week high of $6.67.

A number of hedge funds have recently made changes to their positions in ZIXI. Renaissance Technologies LLC boosted its position in shares of Zix Corporation by 10.9% in the first quarter. Renaissance Technologies LLC now owns 3,367,890 shares of the software maker’s stock valued at $16,200,000 after acquiring an additional 331,490 shares during the period. Vanguard Group Inc. lifted its position in Zix Corporation by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,134,718 shares of the software maker’s stock worth $10,268,000 after purchasing an additional 100,217 shares during the period. Dimensional Fund Advisors LP lifted its position in Zix Corporation by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,048,744 shares of the software maker’s stock worth $9,854,000 after purchasing an additional 188,317 shares during the period. JPMorgan Chase & Co. lifted its position in Zix Corporation by 54.2% in the first quarter. JPMorgan Chase & Co. now owns 618,136 shares of the software maker’s stock worth $2,973,000 after purchasing an additional 217,199 shares during the period. Finally, Geode Capital Management LLC lifted its position in Zix Corporation by 10.9% in the first quarter. Geode Capital Management LLC now owns 493,262 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 48,355 shares during the period. Institutional investors own 68.19% of the company’s stock.

About Zix Corporation

Zix Corporation offers e-mail encryption, data loss prevention and bring-your-own-device (BYOD) security to meet business data protection and compliance needs. The Company operates through e-mail encryption and security solutions. Its Zix Email Encryption enables the secure exchange of e-mails that include sensitive information through a secure messaging service.

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