Magic Software Enterprises (MGIC) Expected to Announce Earnings of $0.15 Per Share

Analysts expect Magic Software Enterprises (NASDAQ:MGIC) to announce earnings of $0.15 per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Magic Software Enterprises’ earnings. The lowest EPS estimate is $0.14 and the highest is $0.16. Magic Software Enterprises posted earnings of $0.13 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The firm is expected to report its next earnings report on Wednesday, August 8th.

On average, analysts expect that Magic Software Enterprises will report full-year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.53 to $0.63. For the next financial year, analysts expect that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.60 to $0.71. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last released its quarterly earnings results on Wednesday, May 16th. The software maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $69.73 million for the quarter, compared to the consensus estimate of $66.55 million. Magic Software Enterprises had a net margin of 5.99% and a return on equity of 10.35%.

A number of research firms recently issued reports on MGIC. ValuEngine lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. BidaskClub lowered shares of Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Zacks Investment Research lowered shares of Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.81.

A number of large investors have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd grew its stake in Magic Software Enterprises by 9.9% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,315,872 shares of the software maker’s stock valued at $11,024,000 after buying an additional 118,890 shares during the last quarter. Delek Group Ltd. acquired a new position in Magic Software Enterprises in the 4th quarter valued at $6,150,000. Meitav Dash Investments Ltd. acquired a new position in Magic Software Enterprises in the 4th quarter valued at $5,201,000. Renaissance Technologies LLC grew its stake in Magic Software Enterprises by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 428,651 shares of the software maker’s stock valued at $3,591,000 after buying an additional 36,599 shares during the last quarter. Finally, Unterberg Capital LLC grew its stake in Magic Software Enterprises by 354.5% in the 1st quarter. Unterberg Capital LLC now owns 170,876 shares of the software maker’s stock valued at $1,452,000 after buying an additional 133,276 shares during the last quarter. Institutional investors and hedge funds own 12.82% of the company’s stock.

Shares of Magic Software Enterprises stock traded down $0.15 during midday trading on Thursday, reaching $8.70. 7,706 shares of the company’s stock traded hands, compared to its average volume of 23,635. The company has a market capitalization of $355.91 million, a P/E ratio of 18.91 and a beta of 0.75. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.13. Magic Software Enterprises has a 52 week low of $8.25 and a 52 week high of $8.50.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, and vertical software solutions and related professional services in Israel and internationally. The company's Software Solutions 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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