Magic Software Enterprises (NASDAQ:MGIC) Issues Quarterly Earnings Results
Magic Software Enterprises (NASDAQ:MGIC) issued its earnings results on Tuesday. The software maker reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14, Morningstar.com reports. Magic Software Enterprises had a return on equity of 10.83% and a net margin of 7.21%. Magic Software Enterprises updated its FY 2019 guidance to EPS.
NASDAQ MGIC opened at $8.95 on Wednesday. The stock has a market cap of $430.24 million, a PE ratio of 16.27 and a beta of 0.95. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. Magic Software Enterprises has a twelve month low of $7.29 and a twelve month high of $10.20. The business’s fifty day simple moving average is $8.95.
Several brokerages have issued reports on MGIC. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Magic Software Enterprises in a report on Thursday, May 23rd. ValuEngine cut Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Zacks Investment Research upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, BidaskClub upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th.
About Magic Software Enterprises
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.
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