Equities analysts forecast that LogMeIn Inc (NASDAQ:LOGM) will announce sales of $311.00 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for LogMeIn’s earnings, with estimates ranging from $310.20 million to $311.40 million. LogMeIn posted sales of $305.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The company is expected to report its next earnings results on Thursday, July 25th.
On average, analysts expect that LogMeIn will report full year sales of $1.26 billion for the current financial year. For the next year, analysts expect that the firm will post sales of $1.32 billion, with estimates ranging from $1.31 billion to $1.33 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow LogMeIn.
LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, April 25th. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.27. The company had revenue of $307.70 million during the quarter, compared to analyst estimates of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. LogMeIn’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered LogMeIn from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BidaskClub lowered LogMeIn from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. KeyCorp reduced their target price on LogMeIn from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, February 15th. Northland Securities reaffirmed a “buy” rating and issued a $125.00 target price on shares of LogMeIn in a report on Friday, March 22nd. Finally, Barclays lowered LogMeIn from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $104.00 to $74.00 in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $94.90.
Shares of LOGM stock traded down $0.85 during trading on Thursday, hitting $69.95. The company’s stock had a trading volume of 372,400 shares, compared to its average volume of 729,249. The firm has a market cap of $3.53 billion, a PE ratio of 15.37, a P/E/G ratio of 1.47 and a beta of 1.11. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.10. LogMeIn has a 52 week low of $69.18 and a 52 week high of $114.45.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 1.86%. The ex-dividend date was Tuesday, May 7th. LogMeIn’s dividend payout ratio (DPR) is 28.57%.
In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the completion of the transaction, the director now directly owns 504,753 shares of the company’s stock, valued at $38,255,229.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of LogMeIn by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,530 shares of the software maker’s stock worth $5,215,000 after purchasing an additional 3,719 shares during the period. Vanguard Group Inc lifted its position in shares of LogMeIn by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 4,579,956 shares of the software maker’s stock worth $408,073,000 after purchasing an additional 63,104 shares during the period. IFP Advisors Inc lifted its position in shares of LogMeIn by 853.7% in the 4th quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock worth $63,000 after purchasing an additional 700 shares during the period. D.A. Davidson & CO. lifted its position in shares of LogMeIn by 31.5% in the 4th quarter. D.A. Davidson & CO. now owns 6,253 shares of the software maker’s stock worth $510,000 after purchasing an additional 1,498 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of LogMeIn in the 4th quarter worth approximately $96,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
Further Reading: How to Use a Moving Average for Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.