Brokerages predict that Carbonite Inc (NASDAQ:CARB) will announce earnings of $0.41 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Carbonite’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.41. Carbonite reported earnings of $0.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 64%. The business is expected to announce its next earnings results after the market closes on Thursday, November 1st.

On average, analysts expect that Carbonite will report full-year earnings of $1.55 per share for the current year, with EPS estimates ranging from $1.53 to $1.56. For the next fiscal year, analysts anticipate that the business will report earnings of $1.81 per share, with EPS estimates ranging from $1.79 to $1.84. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Carbonite.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, August 2nd. The technology company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.15. Carbonite had a return on equity of 46.67% and a net margin of 0.39%. The company had revenue of $77.70 million during the quarter, compared to analyst estimates of $78.89 million. During the same quarter in the previous year, the company posted $0.15 EPS. Carbonite’s revenue for the quarter was up 31.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on CARB shares. MED boosted their target price on Carbonite from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd. Royal Bank of Canada assumed coverage on Carbonite in a research note on Friday, October 5th. They issued an “outperform” rating and a $42.00 target price for the company. Zacks Investment Research downgraded Carbonite from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 25th. BidaskClub downgraded Carbonite from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, Oppenheimer boosted their price target on Carbonite from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Carbonite presently has an average rating of “Buy” and a consensus price target of $39.33.

In related news, General Counsel Danielle Sheer sold 7,474 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $35.59, for a total transaction of $265,999.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Friend sold 698,080 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $37.50, for a total value of $26,178,000.00. Following the transaction, the director now owns 51,880 shares in the company, valued at approximately $1,945,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 755,916 shares of company stock worth $28,454,407. 9.80% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CARB. BlackRock Inc. grew its holdings in shares of Carbonite by 10.9% during the 2nd quarter. BlackRock Inc. now owns 1,820,014 shares of the technology company’s stock worth $63,521,000 after acquiring an additional 179,098 shares during the period. Portolan Capital Management LLC grew its holdings in shares of Carbonite by 7.7% during the 2nd quarter. Portolan Capital Management LLC now owns 1,484,309 shares of the technology company’s stock worth $51,802,000 after acquiring an additional 106,638 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Carbonite by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,135,741 shares of the technology company’s stock worth $39,637,000 after acquiring an additional 3,349 shares during the period. Granahan Investment Management Inc. MA grew its holdings in shares of Carbonite by 6.5% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 611,739 shares of the technology company’s stock worth $21,350,000 after acquiring an additional 37,599 shares during the period. Finally, Summit Creek Advisors LLC grew its holdings in shares of Carbonite by 17.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 540,933 shares of the technology company’s stock worth $19,284,000 after acquiring an additional 80,020 shares during the period. Institutional investors own 84.37% of the company’s stock.

NASDAQ CARB opened at $35.03 on Wednesday. Carbonite has a 1-year low of $20.50 and a 1-year high of $43.63. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $1.21 billion, a PE ratio of 70.06, a P/E/G ratio of 0.85 and a beta of 0.55.

About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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