$0.13 Earnings Per Share Expected for Magic Software Enterprises (MGIC) This Quarter

Wall Street brokerages expect that Magic Software Enterprises (NASDAQ:MGIC) will announce $0.13 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Magic Software Enterprises’ earnings. The lowest EPS estimate is $0.11 and the highest is $0.15. Magic Software Enterprises also posted earnings per share of $0.13 during the same quarter last year. The firm is expected to issue its next quarterly earnings results on Tuesday, May 15th.

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 forecast that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.60 to $0.71. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Magic Software Enterprises.

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Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings results on Wednesday, February 28th. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $66.10 million for the quarter, compared to analyst estimates of $63.75 million. Magic Software Enterprises had a net margin of 5.99% and a return on equity of 10.35%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS.

MGIC has been the subject of a number of research analyst reports. BidaskClub raised shares of Magic Software Enterprises from a “strong sell” rating to a “sell” rating in a report on Saturday, March 3rd. Zacks Investment Research downgraded Magic Software Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, March 3rd. Finally, HC Wainwright set a $10.00 price objective on Magic Software Enterprises and gave the stock a “buy” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.81.

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Magic Software Enterprises in the fourth quarter valued at approximately $106,000. Dimensional Fund Advisors LP raised its stake in shares of Magic Software Enterprises by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after purchasing an additional 2,000 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Magic Software Enterprises in the fourth quarter valued at $242,000. Ramsey Quantitative Systems acquired a new position in shares of Magic Software Enterprises in the fourth quarter valued at $270,000. Finally, Unterberg Capital LLC acquired a new position in Magic Software Enterprises during the fourth quarter worth $315,000. 12.48% of the stock is owned by hedge funds and other institutional investors.

MGIC stock traded down $0.05 during trading on Friday, hitting $8.10. The company had a trading volume of 5,368 shares, compared to its average volume of 22,990. The company has a market capitalization of $360.36, a P/E ratio of 17.61 and a beta of 0.75. Magic Software Enterprises has a fifty-two week low of $7.40 and a fifty-two week high of $9.50. The company has a quick ratio of 3.45, a current ratio of 3.07 and a debt-to-equity ratio of 0.13.

The business also recently announced a Semi-Annual dividend, which was paid on Monday, March 26th. Shareholders of record on Tuesday, March 13th were given a dividend of $0.13 per share. The ex-dividend date was Monday, March 12th. This represents a yield of 3.21%. This is a boost from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09. Magic Software Enterprises’s dividend payout ratio is presently 56.52%.

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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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