Equities analysts expect Magic Software Enterprises Ltd (NASDAQ:MGIC) to announce $80.05 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Magic Software Enterprises’ earnings, with the highest sales estimate coming in at $80.10 million and the lowest estimate coming in at $80.00 million. Magic Software Enterprises posted sales of $72.14 million during the same quarter last year, which suggests a positive year over year growth rate of 11%. The business is expected to announce its next quarterly earnings report on Tuesday, November 12th.
On average, analysts expect that Magic Software Enterprises will report full year sales of $310.90 million for the current financial year, with estimates ranging from $309.90 million to $311.90 million. For the next fiscal year, analysts expect that the business will post sales of $328.25 million, with estimates ranging from $318.00 million to $338.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last announced its earnings results on Tuesday, August 13th. The software maker reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The firm had revenue of $77.06 million during the quarter, compared to analysts’ expectations of $76.55 million. Magic Software Enterprises had a return on equity of 10.43% and a net margin of 6.74%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its position in Magic Software Enterprises by 4.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,854,066 shares of the software maker’s stock worth $16,631,000 after acquiring an additional 75,615 shares during the period. Delek Group Ltd. lifted its position in Magic Software Enterprises by 15.4% during the 1st quarter. Delek Group Ltd. now owns 555,755 shares of the software maker’s stock worth $4,623,000 after acquiring an additional 73,978 shares during the period. Aptus Capital Advisors LLC acquired a new stake in Magic Software Enterprises during the 2nd quarter worth approximately $516,000. Sphera Funds Management LTD. acquired a new stake in Magic Software Enterprises during the 1st quarter worth approximately $324,000. Finally, Seizert Capital Partners LLC acquired a new stake in Magic Software Enterprises during the 1st quarter worth approximately $228,000. 15.63% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MGIC traded up $0.02 during trading hours on Friday, reaching $9.12. The stock had a trading volume of 13,900 shares, compared to its average volume of 21,149. The firm has a market cap of $420.95 million, a price-to-earnings ratio of 16.58 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. Magic Software Enterprises has a fifty-two week low of $7.29 and a fifty-two week high of $10.20. The firm has a 50-day moving average of $8.94 and a 200-day moving average of $8.80.
The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 27th will be given a $0.156 dividend. The ex-dividend date of this dividend is Monday, August 26th. This is a boost from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09. Magic Software Enterprises’s dividend 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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