Wall Street brokerages expect Open Text Corp (NASDAQ:OTEX) (TSE:OTC) to announce earnings per share of $0.60 for the current quarter, according to Zacks. Three analysts have made estimates for Open Text’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.59. Open Text reported earnings per share of $0.54 during the same quarter last year, which would suggest a positive year over year growth rate of 11.1%. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Open Text will report full-year earnings of $2.70 per share for the current financial year, with EPS estimates ranging from $2.63 to $2.80. For the next year, analysts expect that the business will report earnings of $3.03 per share, with EPS estimates ranging from $2.90 to $3.16. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings results on Thursday, August 2nd. The software maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Open Text had a net margin of 8.60% and a return on equity of 8.09%. The business had revenue of $754.30 million for the quarter, compared to analysts’ expectations of $732.02 million. During the same period last year, the business earned $0.60 EPS. The company’s revenue was up 13.7% compared to the same quarter last year.

A number of research firms have recently weighed in on OTEX. BidaskClub cut shares of Open Text from a “buy” rating to a “hold” rating in a report on Friday, September 21st. TD Securities raised their price target on shares of Open Text from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, August 3rd. ValuEngine upgraded shares of Open Text from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Raymond James raised their price target on shares of Open Text from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, August 3rd. Finally, Barclays raised their price target on shares of Open Text from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.18.

Several institutional investors have recently made changes to their positions in OTEX. Wells Fargo & Company MN raised its position in Open Text by 4.2% during the 1st quarter. Wells Fargo & Company MN now owns 99,321 shares of the software maker’s stock worth $3,456,000 after buying an additional 4,003 shares during the last quarter. State of Wisconsin Investment Board raised its position in Open Text by 72.3% during the 1st quarter. State of Wisconsin Investment Board now owns 230,322 shares of the software maker’s stock worth $8,007,000 after buying an additional 96,654 shares during the last quarter. Stevens Capital Management LP purchased a new position in Open Text during the 1st quarter worth approximately $899,000. Neuberger Berman Group LLC purchased a new position in Open Text during the 1st quarter worth approximately $241,000. Finally, Korea Investment CORP raised its position in Open Text by 1,586.9% during the 1st quarter. Korea Investment CORP now owns 302,489 shares of the software maker’s stock worth $10,516,000 after buying an additional 284,557 shares during the last quarter. 67.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:OTEX traded down $0.07 during trading on Wednesday, reaching $37.91. The stock had a trading volume of 254,200 shares, compared to its average volume of 531,592. Open Text has a one year low of $31.52 and a one year high of $40.31. The stock has a market capitalization of $10.18 billion, a P/E ratio of 41.74 and a beta of 0.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.33 and a current ratio of 1.33.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, August 31st were given a $0.1518 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, August 30th. Open Text’s payout ratio 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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