Brokerages expect that Magic Software Enterprises Ltd (NASDAQ:MGIC) will post earnings per share of $0.13 for the current quarter, according to Zacks. Two analysts have made estimates for Magic Software Enterprises’ earnings, with estimates ranging from $0.12 to $0.14. Magic Software Enterprises posted earnings of $0.10 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 30%. The firm is scheduled to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Magic Software Enterprises will report full year earnings of $0.55 per share for the current year, with EPS estimates ranging from $0.50 to $0.59. For the next fiscal year, analysts expect that the company will post earnings of $0.64 per share, with EPS estimates ranging from $0.60 to $0.67. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Tuesday, November 14th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The business had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.65 million. Magic Software Enterprises had a return on equity of 10.37% and a net margin of 4.77%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS.

Several research firms have issued reports on MGIC. Zacks Investment Research lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Barclays reissued a “buy” rating and set a $10.50 price objective on shares of Magic Software Enterprises in a report on Thursday, November 16th. HC Wainwright set a $10.00 price objective on shares of Magic Software Enterprises and gave the company a “buy” rating in a report on Monday, November 20th. Finally, ValuEngine raised shares of Magic Software Enterprises from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Magic Software Enterprises presently has a consensus rating of “Hold” and a consensus price target of $9.81.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in Magic Software Enterprises during the 2nd quarter valued at about $544,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Magic Software Enterprises by 1,421.9% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,186,020 shares of the software maker’s stock valued at $9,429,000 after acquiring an additional 1,108,088 shares in the last quarter. AXA purchased a new stake in Magic Software Enterprises during the 2nd quarter valued at about $176,000. Edmond DE Rothschild Holding S.A. grew its stake in Magic Software Enterprises by 39.1% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 101,539 shares of the software maker’s stock valued at $807,000 after acquiring an additional 28,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Magic Software Enterprises by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 9.32% of the company’s stock.

Magic Software Enterprises (NASDAQ:MGIC) traded down $0.05 during midday trading on Tuesday, reaching $8.35. 5,700 shares of the company’s stock traded hands, compared to its average volume of 31,312. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.16. Magic Software Enterprises has a fifty-two week low of $6.65 and a fifty-two week high of $9.50. The stock has a market capitalization of $371.46, a price-to-earnings ratio of 30.93 and a beta of 0.65.

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Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

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Earnings History and Estimates for Magic Software Enterprises (NASDAQ:MGIC)

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