LogMein, Inc. (LOGM) Expected to Announce Earnings of $1.16 Per Share
Wall Street brokerages forecast that LogMein, Inc. (NASDAQ:LOGM) will report $1.16 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for LogMein’s earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $1.15. LogMein posted earnings per share of $0.62 in the same quarter last year, which would suggest a positive year-over-year growth rate of 87.1%. The firm is expected to issue its next earnings report on Tuesday, February 27th.
On average, analysts expect that LogMein will report full-year earnings of $4.18 per share for the current year, with EPS estimates ranging from $4.05 to $4.24. For the next financial year, analysts forecast that the firm will post earnings of $4.95 per share, with EPS estimates ranging from $4.75 to $5.22. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for LogMein.
LogMein (NASDAQ:LOGM) last announced its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The firm had revenue of $269.30 million for the quarter, compared to analyst estimates of $270.56 million. During the same quarter last year, the firm posted $0.56 EPS. The business’s revenue was up 216.5% on a year-over-year basis.
Several research analysts recently commented on the company. Barclays PLC increased their price objective on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Cowen and Company reissued a “buy” rating and issued a $145.00 price objective on shares of LogMein in a research note on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $170.00 target price on shares of LogMein in a research note on Tuesday, October 24th. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $140.00 target price on shares of LogMein in a research note on Monday, September 4th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $135.96.
In related news, Director Steven J. Benson sold 3,016 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the completion of the sale, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Battles sold 1,136 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the sale, the insider now directly owns 2,760 shares of the company’s stock, valued at $329,626.80. The disclosure for this sale can be found here. Insiders have sold a total of 24,152 shares of company stock valued at $2,710,858 over the last three months. Corporate insiders own 2.50% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its position in shares of LogMein by 14.1% during the 3rd quarter. Rhumbline Advisers now owns 115,717 shares of the software maker’s stock worth $12,735,000 after purchasing an additional 14,267 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of LogMein by 73.9% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 62,785 shares of the software maker’s stock worth $6,909,000 after purchasing an additional 26,676 shares during the last quarter. Sei Investments Co. increased its position in shares of LogMein by 56.9% during the 3rd quarter. Sei Investments Co. now owns 78,050 shares of the software maker’s stock worth $8,589,000 after purchasing an additional 28,315 shares during the last quarter. Smith Asset Management Group LP increased its position in shares of LogMein by 1.5% during the 3rd quarter. Smith Asset Management Group LP now owns 31,386 shares of the software maker’s stock worth $3,454,000 after purchasing an additional 466 shares during the last quarter. Finally, Trillium Asset Management LLC increased its position in shares of LogMein by 3.1% during the 3rd quarter. Trillium Asset Management LLC now owns 108,908 shares of the software maker’s stock worth $11,985,000 after purchasing an additional 3,236 shares during the last quarter. 95.80% of the stock is owned by hedge funds and other institutional investors.
LogMein (NASDAQ:LOGM) opened at $125.25 on Friday. LogMein has a 52 week low of $90.35 and a 52 week high of $129.51. The company has a market capitalization of $6,461.27, a price-to-earnings ratio of 45.80, a P/E/G ratio of 2.14 and a beta of 1.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Wednesday, November 8th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 7th. LogMein’s payout ratio is 909.17%.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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