$315.21 Million in Sales Expected for LogMeIn Inc (NASDAQ:LOGM) This Quarter

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Analysts predict that LogMeIn Inc (NASDAQ:LOGM) will report $315.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for LogMeIn’s earnings, with estimates ranging from $314.99 million to $315.77 million. LogMeIn reported sales of $309.58 million in the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The business is expected to announce its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that LogMeIn will report full-year sales of $1.26 billion for the current fiscal year. For the next year, analysts forecast that the company will post sales of $1.32 billion, with estimates ranging from $1.31 billion to $1.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for LogMeIn.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. LogMeIn had a return on equity of 7.44% and a net margin of 1.82%. The business had revenue of $313.10 million for the quarter, compared to analysts’ expectations of $310.98 million. During the same quarter in the prior year, the firm posted $1.32 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis.

Several research firms have weighed in on LOGM. Zacks Investment Research raised LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a report on Wednesday, July 31st. Robert W. Baird set a $85.00 price target on LogMeIn and gave the company a “hold” rating in a report on Friday, July 26th. Northland Securities reaffirmed a “buy” rating on shares of LogMeIn in a report on Friday, July 26th. BidaskClub cut LogMeIn from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. Finally, TheStreet cut LogMeIn from a “b” rating to a “c” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. LogMeIn has an average rating of “Hold” and a consensus price target of $93.67.

Shares of NASDAQ:LOGM traded down $0.26 on Tuesday, hitting $69.04. The company’s stock had a trading volume of 259,100 shares, compared to its average volume of 653,554. The company has a 50-day simple moving average of $73.82 and a 200 day simple moving average of $78.40. LogMeIn has a 1 year low of $67.12 and a 1 year high of $96.87. The company has a market capitalization of $3.43 billion, a PE ratio of 15.17, a PEG ratio of 3.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.46 and a quick ratio of 0.46.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 7th will be issued a dividend of $0.325 per share. The ex-dividend date is Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.88%. LogMeIn’s dividend payout ratio is 28.57%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC purchased a new position in shares of LogMeIn during the 2nd quarter valued at about $33,000. Icon Wealth Partners LLC purchased a new position in shares of LogMeIn during the 1st quarter valued at about $39,000. Flagship Harbor Advisors LLC raised its holdings in shares of LogMeIn by 59.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock valued at $45,000 after buying an additional 211 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of LogMeIn during the 1st quarter valued at about $91,000. Finally, CSat Investment Advisory L.P. purchased a new position in shares of LogMeIn during the 2nd quarter valued at about $100,000. 98.14% of the stock is currently owned by institutional investors.

About LogMeIn

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.

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