Open Text Corporation (NASDAQ:OTEX – Get Free Report) (TSE:OTC) has earned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.6667.
Several equities research analysts have weighed in on OTEX shares. Citigroup dropped their price objective on Open Text from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Scotiabank decreased their target price on Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th. TD Securities raised Open Text to a “hold” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Open Text from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Scotia decreased their price objective on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a report on Friday, May 8th.
Check Out Our Latest Research Report on OTEX
Institutional Investors Weigh In On Open Text
Open Text Stock Performance
Shares of NASDAQ:OTEX opened at $23.47 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 11.45 and a beta of 1.04. The company has a 50-day moving average price of $22.73 and a 200-day moving average price of $27.63. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.56. Open Text has a 12 month low of $20.00 and a 12 month high of $39.90.
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last posted its earnings results on Thursday, May 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $0.82 earnings per share. Open Text’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Open Text will post 3.98 EPS for the current year.
Open Text Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 4.7%. Open Text’s dividend payout ratio (DPR) is 53.66%.
Open Text Company Profile
Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.
Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.
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