Wall Street brokerages forecast that Magic Software Enterprises Ltd (NASDAQ:MGIC) will post earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Magic Software Enterprises’ earnings, with estimates ranging from $0.11 to $0.15. Magic Software Enterprises also posted earnings per share of $0.13 in the same quarter last year. The firm is scheduled to issue its next earnings results on Tuesday, May 15th.
According to Zacks, analysts expect that Magic Software Enterprises will report full-year earnings of $0.58 per share for the current fiscal year, with EPS estimates ranging from $0.53 to $0.63. For the next year, analysts anticipate that the business will post earnings of $0.66 per share, with EPS estimates ranging from $0.60 to $0.71. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last issued its earnings results on Wednesday, February 28th. The software maker reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Magic Software Enterprises had a return on equity of 10.35% and a net margin of 5.99%. The firm had revenue of $66.10 million during the quarter, compared to analysts’ expectations of $63.75 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year.
Several brokerages recently commented on MGIC. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Magic Software Enterprises in a research note on Thursday, March 15th. BidaskClub raised shares of Magic Software Enterprises from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 3rd. Finally, Zacks Investment Research downgraded shares of Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, March 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Magic Software Enterprises has an average rating of “Hold” and a consensus target price of $9.81.
Shares of Magic Software Enterprises (NASDAQ:MGIC) traded down $0.05 during midday trading on Tuesday, hitting $8.20. 26,538 shares of the company traded hands, compared to its average volume of 25,416. The company has a current ratio of 3.07, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Magic Software Enterprises has a 12 month low of $7.40 and a 12 month high of $9.50. The stock has a market capitalization of $373.70, a P/E ratio of 22.78 and a beta of 0.88.
The business also recently declared a Semi-Annual dividend, which will be paid on Monday, March 26th. Investors of record on Tuesday, March 13th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 12th. This represents a yield of 3.21%. This is a boost from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09. Magic Software Enterprises’s payout ratio is 72.22%.
Large investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Magic Software Enterprises by 9.9% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,315,872 shares of the software maker’s stock valued at $11,024,000 after acquiring an additional 118,890 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in Magic Software Enterprises in the fourth quarter valued at $270,000. Unterberg Capital LLC bought a new stake in Magic Software Enterprises in the fourth quarter valued at $315,000. Dimensional Fund Advisors LP boosted its holdings in Magic Software Enterprises by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Naples Global Advisors LLC bought a new stake in Magic Software Enterprises in the fourth quarter valued at $560,000. Institutional investors and hedge funds own 12.48% of the company’s stock.
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About Magic Software Enterprises
Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.
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