$0.37 Earnings Per Share Expected for Carbonite Inc (CARB) This Quarter

Brokerages expect that Carbonite Inc (NASDAQ:CARB) will report earnings of $0.37 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Carbonite’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.44. Carbonite reported earnings per share of $0.27 during the same quarter last year, which would suggest a positive year over year growth rate of 37%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Carbonite will report full-year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.67 to $1.77. For the next year, analysts expect that the business will post earnings of $2.02 per share, with EPS estimates ranging from $1.78 to $2.14. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Carbonite.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, February 7th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.16. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $79.53 million. Carbonite had a return on equity of 24.20% and a net margin of 2.54%. Carbonite’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share.

Several research firms recently weighed in on CARB. BidaskClub upgraded Carbonite from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Barclays began coverage on Carbonite in a research report on Thursday, March 28th. They set an “overweight” rating and a $30.00 target price on the stock. Zacks Investment Research downgraded Carbonite from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. Rosenblatt Securities reiterated a “neutral” rating and set a $33.00 target price (down from $45.00) on shares of Carbonite in a research report on Friday, February 8th. Finally, ValuEngine downgraded Carbonite from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.33.

In related news, SVP Norman Guadagno sold 4,294 shares of the business’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $27.88, for a total value of $119,716.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mohamad Ali sold 10,353 shares of the business’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $27.56, for a total value of $285,328.68. The disclosure for this sale can be found here. Insiders sold 76,752 shares of company stock worth $1,982,048 over the last 90 days. Company insiders own 8.00% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. American International Group Inc. lifted its position in shares of Carbonite by 2.0% in the fourth quarter. American International Group Inc. now owns 21,242 shares of the technology company’s stock worth $537,000 after buying an additional 422 shares in the last quarter. Advisor Group Inc. increased its stake in Carbonite by 21.7% during the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock worth $82,000 after acquiring an additional 570 shares during the last quarter. Legal & General Group Plc increased its stake in Carbonite by 13.7% during the fourth quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock worth $144,000 after acquiring an additional 687 shares during the last quarter. Raymond James & Associates increased its stake in Carbonite by 13.0% during the fourth quarter. Raymond James & Associates now owns 8,712 shares of the technology company’s stock worth $220,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Carbonite by 73.2% during the fourth quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock worth $79,000 after acquiring an additional 1,330 shares during the last quarter.

NASDAQ CARB traded down $0.43 on Friday, hitting $24.26. 8,876 shares of the company traded hands, compared to its average volume of 531,219. The company has a market capitalization of $853.24 million, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.59 and a current ratio of 1.59. Carbonite has a 52-week low of $21.83 and a 52-week high of $43.63.

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, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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Earnings History and Estimates for Carbonite (NASDAQ:CARB)

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