Brokerages Anticipate Magic Software Enterprises Ltd (MGIC) Will Post Earnings of $0.13 Per Share
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.
TRADEMARK VIOLATION NOTICE: “Brokerages Anticipate Magic Software Enterprises Ltd (MGIC) Will Post Earnings of $0.13 Per Share” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://theolympiareport.com/2017/12/26/brokerages-anticipate-magic-software-enterprises-ltd-mgic-will-post-earnings-of-0-13-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Magic Software Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magic Software Enterprises and related companies with Analyst Ratings Network's FREE daily email newsletter.