Magic Software Enterprises (MGIC) Earns Daily Coverage Optimism Score of 0.08

Media coverage about Magic Software Enterprises (NASDAQ:MGIC) has trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Magic Software Enterprises earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned news stories about the software maker an impact score of 45.548868383812 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

These are some of the media headlines that may have effected Accern’s rankings:

A number of research firms have commented on MGIC. BidaskClub raised Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Tuesday, September 5th. HC Wainwright set a $10.00 target price on Magic Software Enterprises and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, ValuEngine raised Magic Software Enterprises from a “hold” rating to a “buy” rating in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.69.

Magic Software Enterprises (NASDAQ:MGIC) remained flat at $9.40 during trading on Thursday. The company’s stock had a trading volume of 32,471 shares. Magic Software Enterprises has a 52-week low of $6.65 and a 52-week high of $9.50. The firm has a market cap of $414.84 million, a price-to-earnings ratio of 34.81 and a beta of 0.67. The company’s 50-day moving average price is $8.49 and its 200 day moving average price is $8.09.

Magic Software Enterprises (NASDAQ:MGIC) last released its earnings results on Wednesday, August 9th. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Magic Software Enterprises had a return on equity of 10.49% and a net margin of 5.08%. The firm had revenue of $65.50 million for the quarter, compared to the consensus estimate of $52.65 million. During the same period in the prior year, the firm earned $0.12 EPS. The firm’s revenue was up 38.2% on a year-over-year basis. Analysts expect that Magic Software Enterprises will post $0.56 earnings per share for the current year.

The company also recently announced a semiannual dividend, which was paid on Wednesday, September 13th. Investors of record on Tuesday, August 29th were given a $0.13 dividend. This represents a dividend yield of 3.25%. This is an increase from Magic Software Enterprises’s previous semiannual dividend of $0.10. The ex-dividend date of this dividend was Tuesday, August 29th. Magic Software Enterprises’s dividend payout ratio is presently 96.30%.

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Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

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