Zacks: Brokerages Expect Mimecast Limited (MIME) to Announce $0.02 EPS

Brokerages expect Mimecast Limited (NASDAQ:MIME) to announce earnings of $0.02 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Mimecast Limited’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.04. Mimecast Limited reported earnings of $0.05 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 60%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.

According to Zacks, analysts expect that Mimecast Limited will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.02 to $0.12. For the next fiscal year, analysts expect that the firm will post earnings of $0.20 per share, with EPS estimates ranging from $0.08 to $0.30. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Mimecast Limited.

Mimecast Limited (NASDAQ:MIME) last posted its quarterly earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year.

A number of equities analysts have issued reports on MIME shares. Zacks Investment Research downgraded shares of Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mimecast Limited in a report on Monday, July 31st. BidaskClub raised shares of Mimecast Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Mimecast Limited in a report on Sunday, September 10th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $36.00 price objective (up from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.08.

COPYRIGHT VIOLATION WARNING: “Zacks: Brokerages Expect Mimecast Limited (MIME) to Announce $0.02 EPS” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/09/zacks-brokerages-expect-mimecast-limited-mime-to-announce-0-02-eps.html.

Mimecast Limited (MIME) traded up 0.13% during mid-day trading on Wednesday, reaching $29.86. 535,464 shares of the company’s stock traded hands. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $30.10. The company has a 50 day moving average price of $27.66 and a 200-day moving average price of $26.09. The stock’s market cap is $1.70 billion.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $805,000. Castleark Management LLC raised its stake in shares of Mimecast Limited by 46.9% during the 2nd quarter. Castleark Management LLC now owns 325,403 shares of the technology company’s stock worth $8,714,000 after purchasing an additional 103,948 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $502,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Mimecast Limited by 21.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 425,518 shares of the technology company’s stock worth $11,395,000 after purchasing an additional 75,998 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $290,000. Institutional investors own 52.56% of the company’s stock.

About Mimecast Limited

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

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According to Zacks, analysts expect that Mimecast Limited will report full year earnings of $0.06 per share for the current year, with EPS estimates ranging from $0.02 to $0.12. For the next fiscal year, analysts expect that the firm will post earnings of $0.20 per share, with EPS estimates ranging from $0.08 to $0.30. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Mimecast Limited.

Mimecast Limited (NASDAQ:MIME) last posted its quarterly earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year.

A number of equities analysts have issued reports on MIME shares. Zacks Investment Research downgraded shares of Mimecast Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mimecast Limited in a report on Monday, July 31st. BidaskClub raised shares of Mimecast Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Mimecast Limited in a report on Sunday, September 10th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $36.00 price objective (up from $32.00) on shares of Mimecast Limited in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.08.

COPYRIGHT VIOLATION WARNING: “Zacks: Brokerages Expect Mimecast Limited (MIME) to Announce $0.02 EPS” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2017/10/09/zacks-brokerages-expect-mimecast-limited-mime-to-announce-0-02-eps.html.

Mimecast Limited (MIME) traded up 0.13% during mid-day trading on Wednesday, reaching $29.86. 535,464 shares of the company’s stock traded hands. Mimecast Limited has a 12 month low of $16.75 and a 12 month high of $30.10. The company has a 50 day moving average price of $27.66 and a 200-day moving average price of $26.09. The stock’s market cap is $1.70 billion.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $805,000. Castleark Management LLC raised its stake in shares of Mimecast Limited by 46.9% during the 2nd quarter. Castleark Management LLC now owns 325,403 shares of the technology company’s stock worth $8,714,000 after purchasing an additional 103,948 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $502,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Mimecast Limited by 21.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 425,518 shares of the technology company’s stock worth $11,395,000 after purchasing an additional 75,998 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Mimecast Limited during the 2nd quarter worth $290,000. Institutional investors own 52.56% of the company’s stock.

About Mimecast Limited

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

Get a free copy of the Zacks research report on Mimecast Limited (MIME)

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Earnings History and Estimates for Mimecast Limited (NASDAQ:MIME)

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