Open Text Corporation (OTEX) To Go Ex-Dividend on December 4th

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, December 4th will be paid a dividend of $0.28 per share by the software maker on Friday, December 18th. This represents a $1.12 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, December 4th.

Open Text has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Open Text to earn $3.86 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 29.0%.

Open Text Stock Performance

Shares of Open Text stock traded down $0.47 on Thursday, reaching $26.12. The stock had a trading volume of 1,836,419 shares, compared to its average volume of 1,936,618. The business’s 50-day moving average price is $24.41 and its two-hundred day moving average price is $23.88. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.81 and a current ratio of 0.81. Open Text has a fifty-two week low of $19.77 and a fifty-two week high of $38.29. The stock has a market cap of $6.31 billion, a P/E ratio of 10.12 and a beta of 0.98.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, November 5th. The software maker reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. Open Text had a net margin of 12.26% and a return on equity of 25.76%. During the same period in the prior year, the firm posted $1.05 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Open Text will post 3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OTEX. Raymond James Financial downgraded Open Text from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $29.50 in a research note on Thursday, August 6th. Citigroup lifted their price target on Open Text from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Zacks Research upgraded Open Text from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Scotiabank reduced their price objective on Open Text from $40.00 to $33.00 and set a “sector outperform” rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Open Text from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.95.

About Open Text

OpenText Corporation is a Canadian enterprise software company that develops solutions for managing, securing and exchanging business information. Its offerings help organizations organize content, automate business processes, connect with customers and partners, and manage information across cloud, on-premises and hybrid environments.

The company’s portfolio includes enterprise content management, business network and integration services, customer experience tools, cybersecurity and information governance solutions, and software for managing enterprise applications and information technology operations.