Equities research analysts predict that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will announce $0.63 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Open Text’s earnings. Open Text reported earnings per share of $0.54 in the same quarter last year, which would indicate a positive year over year growth rate of 16.7%. The company is expected to issue its next quarterly earnings results on Thursday, February 1st.

On average, analysts expect that Open Text will report full year earnings of $2.41 per share for the current year, with EPS estimates ranging from $2.33 to $2.49. For the next financial year, analysts forecast that the firm will report earnings of $2.63 per share, with EPS estimates ranging from $2.36 to $2.90. Zacks’ EPS averages are a mean average based on a survey of research firms that follow Open Text.

OTEX has been the subject of several analyst reports. Zacks Investment Research cut Open Text from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. BMO Capital Markets dropped their price objective on Open Text from $40.00 to $38.00 in a report on Friday, November 3rd. Macquarie lowered Open Text from a “neutral” rating to an “underperform” rating and set a $31.50 price objective on the stock. in a report on Wednesday, November 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Open Text in a report on Monday, October 30th. Finally, Barclays upped their price objective on Open Text from $54.00 to $55.00 in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Open Text presently has an average rating of “Hold” and an average price target of $42.27.

Open Text (NASDAQ OTEX) traded down $0.20 during trading on Friday, hitting $32.27. The stock had a trading volume of 616,603 shares, compared to its average volume of 510,692. Open Text has a twelve month low of $29.58 and a twelve month high of $35.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $8,620.20, a PE ratio of 56.97 and a beta of 0.44.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Friday, December 1st will be issued a $0.132 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.64%. Open Text’s dividend payout ratio (DPR) is 92.98%.

Several large investors have recently made changes to their positions in OTEX. Wells Fargo & Company MN grew its stake in Open Text by 15.6% during the 2nd quarter. Wells Fargo & Company MN now owns 5,539 shares of the software maker’s stock valued at $175,000 after purchasing an additional 749 shares in the last quarter. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Open Text by 7.5% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 6,498 shares of the software maker’s stock worth $205,000 after purchasing an additional 452 shares during the last quarter. Creative Planning lifted its holdings in shares of Open Text by 48.7% in the 2nd quarter. Creative Planning now owns 6,714 shares of the software maker’s stock worth $212,000 after purchasing an additional 2,200 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Open Text during the 3rd quarter valued at $245,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Open Text during the 2nd quarter valued at $243,000. Institutional investors and hedge funds own 66.77% of the company’s stock.

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About Open Text

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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