Equities analysts expect Magic Software Enterprises Ltd. (NASDAQ:MGIC) to announce sales of $113.00 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Magic Software Enterprises’ earnings. The highest sales estimate is $115.00 million and the lowest is $111.00 million. Magic Software Enterprises posted sales of $94.89 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.1%. The company is scheduled to report its next quarterly earnings results on Monday, November 15th.
According to Zacks, analysts expect that Magic Software Enterprises will report full year sales of $455.80 million for the current fiscal year, with estimates ranging from $455.10 million to $456.50 million. For the next year, analysts anticipate that the business will report sales of $499.65 million, with estimates ranging from $485.00 million to $514.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings data on Thursday, August 12th. The software maker reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. Magic Software Enterprises had a net margin of 6.48% and a return on equity of 15.53%. The company had revenue of $119.16 million during the quarter, compared to analysts’ expectations of $107.15 million.
Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in Magic Software Enterprises during the 2nd quarter valued at $32,000. Wells Fargo & Company MN boosted its position in Magic Software Enterprises by 203.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,091 shares of the software maker’s stock valued at $33,000 after buying an additional 1,402 shares during the period. Lazard Asset Management LLC raised its holdings in Magic Software Enterprises by 88.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,887 shares of the software maker’s stock worth $59,000 after purchasing an additional 1,828 shares in the last quarter. Morgan Stanley raised its holdings in Magic Software Enterprises by 33.0% in the 1st quarter. Morgan Stanley now owns 5,855 shares of the software maker’s stock worth $89,000 after purchasing an additional 1,452 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Magic Software Enterprises in the 1st quarter worth $90,000. 18.32% of the stock is owned by institutional investors and hedge funds.
Shares of Magic Software Enterprises stock opened at $19.95 on Tuesday. Magic Software Enterprises has a 52-week low of $12.02 and a 52-week high of $21.02. The stock has a market capitalization of $978.25 million, a price-to-earnings ratio of 35.63 and a beta of 1.40. The company has a fifty day moving average of $18.90 and a 200-day moving average of $17.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 2.40.
The company also recently declared a semi-annual dividend, which was paid on Tuesday, September 14th. Shareholders of record on Monday, August 30th were given a dividend of $0.234 per share. The ex-dividend date of this dividend was Friday, August 27th. This represents a yield of 2.4%. This is a boost from Magic Software Enterprises’s previous semi-annual dividend of $0.21. Magic Software Enterprises’s dividend payout ratio is presently 61.84%.
Magic Software Enterprises Company Profile
Magic Software Enterprises Ltd. engages in the provision of proprietary application development and business process integration platforms, vertical software solutions, and vendor of information technology (IT) outsourcing software services. It operates through Software Services and IT Professional Services segments.
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