LogMein, Inc. (LOGM) Expected to Post Earnings of $1.16 Per Share
Brokerages forecast that LogMein, Inc. (NASDAQ:LOGM) will announce earnings of $1.16 per share for the current quarter, according to Zacks. Five analysts have issued estimates for LogMein’s earnings. The lowest EPS estimate is $1.15 and the highest is $1.18. LogMein posted earnings per share of $0.62 during the same quarter last year, which suggests a positive year over year growth rate of 87.1%. The business is expected to report its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that LogMein will report full year earnings of $4.18 per share for the current financial year, with EPS estimates ranging from $4.05 to $4.24. For the next year, analysts expect that the company will post earnings of $4.95 per share, with EPS estimates ranging from $4.75 to $5.22. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow LogMein.
LogMein (NASDAQ:LOGM) last issued its earnings results on Thursday, October 26th. The software maker reported $1.16 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 business had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue was up 216.5% compared to the same quarter last year.
LOGM has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $134.00 target price on shares of LogMein in a research report on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $130.00 target price on shares of LogMein in a research report on Friday, September 1st. 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 report on Wednesday, November 1st. Barclays boosted their target price on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $140.00 target price on shares of LogMein in a research report 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 a consensus rating of “Buy” and an average price target of $135.96.
In other LogMein news, insider Christopher Battles sold 1,136 shares of LogMein stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the transaction, the insider now owns 2,760 shares in the company, valued at approximately $329,626.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in LogMein by 45.9% during the 2nd quarter. FMR LLC now owns 4,236,789 shares of the software maker’s stock valued at $442,745,000 after purchasing an additional 1,333,687 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of LogMein by 49.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,564,888 shares of the software maker’s stock worth $163,531,000 after buying an additional 520,318 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of LogMein by 75.6% in the 3rd quarter. Wells Fargo & Company MN now owns 1,521,683 shares of the software maker’s stock worth $167,461,000 after buying an additional 655,296 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of LogMein by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 1,164,447 shares of the software maker’s stock worth $128,147,000 after buying an additional 146,549 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of LogMein by 5.5% in the 3rd quarter. First Trust Advisors LP now owns 894,244 shares of the software maker’s stock worth $98,412,000 after buying an additional 46,968 shares during the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
Shares of LogMein (LOGM) traded down $0.05 during trading on Monday, reaching $119.15. The company had a trading volume of 415,212 shares, compared to its average volume of 707,176. LogMein has a twelve month low of $90.35 and a twelve month high of $129.51. The company has a market cap of $6,260.00, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28.
The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. LogMein’s dividend payout ratio (DPR) is currently 909.09%.
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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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