Equities research analysts expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will announce $0.57 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Open Text’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.62. Open Text posted earnings per share of $0.54 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is scheduled to issue its next earnings results on Wednesday, May 8th.

On average, analysts expect that Open Text will report full year earnings of $2.67 per share for the current year, with EPS estimates ranging from $2.59 to $2.74. For the next financial year, analysts expect that the firm will post earnings of $2.83 per share, with EPS estimates ranging from $2.72 to $2.94. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, January 31st. The software maker reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.16. Open Text had a return on equity of 7.00% and a net margin of 9.19%. The company had revenue of $735.23 million during the quarter, compared to analysts’ expectations of $744.81 million.

Several research firms have recently weighed in on OTEX. Zacks Investment Research raised Open Text from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on Open Text from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, February 1st. TD Securities increased their price objective on Open Text from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 1st. BMO Capital Markets set a $43.00 price objective on Open Text and gave the company a “buy” rating in a research report on Saturday, February 2nd. Finally, Mitsubishi UFJ Financial Group increased their price objective on Open Text to $43.00 in a research report on Monday, February 4th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $45.40.

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Open Text by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,283,718 shares of the software maker’s stock valued at $353,153,000 after purchasing an additional 1,136,163 shares in the last quarter. Vanguard Group Inc grew its position in Open Text by 3.6% during the third quarter. Vanguard Group Inc now owns 6,558,071 shares of the software maker’s stock worth $249,469,000 after buying an additional 225,874 shares in the last quarter. Vanguard Group Inc. grew its position in Open Text by 3.6% during the third quarter. Vanguard Group Inc. now owns 6,558,071 shares of the software maker’s stock worth $249,469,000 after buying an additional 225,874 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Open Text by 1.0% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,496,882 shares of the software maker’s stock worth $209,101,000 after buying an additional 54,105 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Open Text by 38.7% during the fourth quarter. Mackenzie Financial Corp now owns 5,446,327 shares of the software maker’s stock worth $177,550,000 after buying an additional 1,520,874 shares in the last quarter. 68.23% of the stock is owned by hedge funds and other institutional investors.

Shares of OTEX traded up $0.05 during mid-day trading on Thursday, hitting $38.51. The company’s stock had a trading volume of 17,583 shares, compared to its average volume of 449,283. Open Text has a one year low of $30.99 and a one year high of $40.01. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 42.35 and a beta of 0.55.

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 1st were given a $0.116 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.46 annualized dividend and a yield of 1.20%. Open Text’s dividend payout ratio (DPR) is currently 67.03%.

About Open Text

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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