Open Text Corporation (OTEX) to Issue $0.13 Quarterly Dividend
Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Friday, December 1st will be given a dividend of 0.132 per share by the software maker on Wednesday, December 20th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 30th.
Open Text Corporation (OTEX) traded up $0.22 during mid-day trading on Friday, hitting $34.48. 917,541 shares of the company were exchanged, compared to its average volume of 414,461. The stock has a market capitalization of $9.04 billion, a PE ratio of 60.00 and a beta of 0.47.
Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). The firm had revenue of $663.60 million for the quarter, compared to analysts’ expectations of $662.36 million. Open Text Corporation had a return on equity of 6.56% and a net margin of 6.12%. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 earnings per share. research analysts forecast that Open Text Corporation will post 0.67 earnings per share for the current year.
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A number of analysts have commented on the company. Scotiabank reiterated an “outperform” rating and set a $50.00 target price (up from $41.00) on shares of Open Text Corporation in a research report on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and issued a $40.00 price target on shares of Open Text Corporation in a report on Monday. Zacks Investment Research raised Open Text Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of Open Text Corporation in a report on Friday, August 4th. Finally, TD Securities boosted their price target on Open Text Corporation from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Open Text Corporation currently has an average rating of “Buy” and a consensus price target of $40.25.
Open Text Corporation Company Profile
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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