Wall Street analysts expect Magic Software Enterprises Ltd (NASDAQ:MGIC) to announce earnings of $0.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Magic Software Enterprises’ earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.13. Magic Software Enterprises also reported earnings per share of $0.14 during the same quarter last year. The company is scheduled to report its next earnings report on Wednesday, May 15th.
On average, analysts expect that Magic Software Enterprises will report full year earnings of $0.60 per share for the current financial year, with EPS estimates ranging from $0.59 to $0.60. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.66 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last released its quarterly earnings results on Monday, March 4th. The software maker reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Magic Software Enterprises had a return on equity of 11.06% and a net margin of 6.99%. The firm had revenue of $72.29 million during the quarter, compared to the consensus estimate of $73.75 million.
Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Magic Software Enterprises by 9.4% in the 3rd quarter. Renaissance Technologies LLC now owns 432,052 shares of the software maker’s stock valued at $3,672,000 after buying an additional 37,100 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Magic Software Enterprises by 38.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,782,994 shares of the software maker’s stock valued at $13,604,000 after acquiring an additional 490,605 shares during the last quarter. Naples Global Advisors LLC boosted its holdings in shares of Magic Software Enterprises by 8.1% in the 4th quarter. Naples Global Advisors LLC now owns 127,049 shares of the software maker’s stock valued at $1,002,000 after acquiring an additional 9,508 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Magic Software Enterprises by 20.2% in the 4th quarter. Van ECK Associates Corp now owns 9,359 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,571 shares during the last quarter. Finally, ETF Managers Group LLC boosted its holdings in Magic Software Enterprises by 18.2% during the fourth quarter. ETF Managers Group LLC now owns 38,333 shares of the software maker’s stock worth $295,000 after buying an additional 5,890 shares in the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Magic Software Enterprises stock traded up $0.07 during trading on Tuesday, reaching $9.28. 13,997 shares of the stock were exchanged, compared to its average volume of 25,462. The company has a current ratio of 3.99, a quick ratio of 3.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $454.19 million, a P/E ratio of 16.87 and a beta of 0.85. Magic Software Enterprises has a 1 year low of $7.29 and a 1 year high of $9.44.
The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, March 27th. Stockholders of record on Thursday, March 14th were issued a $0.15 dividend. The ex-dividend date was Wednesday, March 13th. This is an increase from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09. Magic Software Enterprises’s payout ratio is 54.55%.
About Magic Software Enterprises
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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