Magic Software Enterprises Ltd (NASDAQ:MGIC) – Analysts at William Blair lowered their FY2018 earnings per share estimates for Magic Software Enterprises in a note issued to investors on Tuesday, November 13th. William Blair analyst B. Suri now forecasts that the software maker will post earnings per share of $0.59 for the year, down from their previous forecast of $0.62. William Blair also issued estimates for Magic Software Enterprises’ Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.16 EPS and FY2019 earnings at $0.64 EPS.

Several other analysts have also issued reports on the stock. BidaskClub upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. Zacks Investment Research lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, 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 Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.75.

Shares of MGIC opened at $8.23 on Thursday. The stock has a market capitalization of $414.44 million, a P/E ratio of 17.89 and a beta of 0.82. Magic Software Enterprises has a 12-month low of $7.75 and a 12-month high of $9.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.12 and a current ratio of 3.12.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Tuesday, November 13th. The software maker reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $72.14 million during the quarter, compared to analysts’ expectations of $73.35 million. Magic Software Enterprises had a net margin of 6.88% and a return on equity of 11.46%.

A number of institutional investors and hedge funds have recently modified their holdings of MGIC. Acadian Asset Management LLC purchased a new stake in Magic Software Enterprises in the 3rd quarter valued at about $136,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Magic Software Enterprises in the 3rd quarter valued at about $139,000. Jane Street Group LLC purchased a new stake in Magic Software Enterprises in the 2nd quarter valued at about $259,000. Virtu Financial LLC purchased a new stake in Magic Software Enterprises during the third quarter worth about $455,000. Finally, Ramsey Quantitative Systems increased its stake in Magic Software Enterprises by 54.4% during the third quarter. Ramsey Quantitative Systems now owns 60,989 shares of the software maker’s stock worth $518,000 after purchasing an additional 21,479 shares during the period. Hedge funds and other institutional investors own 12.74% of the company’s stock.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.

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

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