Wall Street analysts expect that Magic Software Enterprises Ltd (NASDAQ:MGIC) will post earnings per share of $0.13 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Magic Software Enterprises’ earnings. The highest EPS estimate is $0.14 and the lowest is $0.12. Magic Software Enterprises posted earnings per share of $0.10 in the same quarter last year, which indicates a positive year over year growth rate of 30%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 20th.
On average, analysts expect that Magic Software Enterprises will report full-year earnings of $0.55 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.59. For the next financial year, analysts expect that the firm will report earnings of $0.64 per share, with EPS estimates ranging from $0.60 to $0.67. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings results on Tuesday, November 14th. The software maker reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). Magic Software Enterprises had a net margin of 4.77% and a return on equity of 10.37%. The firm had revenue of $65.70 million for the quarter, compared to the consensus estimate of $62.65 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year.
MGIC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Barclays reiterated a “buy” rating and set a $10.50 price target on shares of Magic Software Enterprises in a report on Thursday, November 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Magic Software Enterprises in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Magic Software Enterprises has an average rating of “Hold” and an average target price of $9.81.
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Magic Software Enterprises by 11.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock worth $158,000 after purchasing an additional 2,000 shares in the last quarter. AXA bought a new position in Magic Software Enterprises in the 2nd quarter worth $176,000. Macquarie Group Ltd. bought a new position in Magic Software Enterprises in the 3rd quarter worth $518,000. Bank of New York Mellon Corp bought a new position in Magic Software Enterprises in the 2nd quarter worth $544,000. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in Magic Software Enterprises by 39.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 101,539 shares of the software maker’s stock worth $807,000 after purchasing an additional 28,539 shares in the last quarter. Institutional investors and hedge funds own 9.32% of the company’s stock.
Magic Software Enterprises (NASDAQ:MGIC) traded up $0.25 during trading hours on Thursday, reaching $8.95. 20,678 shares of the company were exchanged, compared to its average volume of 16,624. Magic Software Enterprises has a 52 week low of $6.75 and a 52 week high of $9.50. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.16. The company has a market cap of $398.15, a price-to-earnings ratio of 33.15 and a beta of 0.65.
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Magic Software Enterprises Company Profile
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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