$0.16 EPS Expected for Magic Software Enterprises Ltd (NASDAQ:MGIC) This Quarter
Analysts predict that Magic Software Enterprises Ltd (NASDAQ:MGIC) will announce earnings of $0.16 per share for the current quarter, according to Zacks. Two analysts have made estimates for Magic Software Enterprises’ earnings. The highest EPS estimate is $0.16 and the lowest is $0.15. Magic Software Enterprises posted earnings per share of $0.14 in the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is scheduled to announce its next earnings results on Tuesday, August 11th.
According to Zacks, analysts expect that Magic Software Enterprises will report full year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.64 to $0.66. For the next financial year, analysts expect that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.68 to $0.70. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $85.21 million for the quarter, compared to analyst estimates of $82.65 million. Magic Software Enterprises had a return on equity of 11.94% and a net margin of 4.23%.
Magic Software Enterprises stock traded down $0.14 on Tuesday, reaching $10.98. The company’s stock had a trading volume of 43,700 shares, compared to its average volume of 45,575. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.05 and a current ratio of 3.05. The company has a market cap of $544.21 million, a price-to-earnings ratio of 40.67 and a beta of 0.92. The business’s fifty day moving average price is $10.59 and its 200 day moving average price is $9.80. Magic Software Enterprises has a twelve month low of $6.31 and a twelve month high of $12.39.
The business also recently disclosed a semi-annual dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 9th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 1.6%. Magic Software Enterprises’s dividend payout ratio is presently 41.38%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Magic Software Enterprises by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 12,097 shares of the software maker’s stock valued at $97,000 after purchasing an additional 1,943 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Magic Software Enterprises by 202.2% in the first quarter. Tower Research Capital LLC TRC now owns 4,013 shares of the software maker’s stock valued at $32,000 after purchasing an additional 2,685 shares during the last quarter. ETF Managers Group LLC increased its holdings in Magic Software Enterprises by 9.7% in the first quarter. ETF Managers Group LLC now owns 43,194 shares of the software maker’s stock valued at $335,000 after purchasing an additional 3,836 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in Magic Software Enterprises by 7.6% in the first quarter. Aptus Capital Advisors LLC now owns 58,920 shares of the software maker’s stock valued at $474,000 after purchasing an additional 4,158 shares during the last quarter. Finally, AXA increased its holdings in Magic Software Enterprises by 9.7% in the fourth quarter. AXA now owns 48,777 shares of the software maker’s stock valued at $477,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 11.27% 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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