Open Text (OTEX) Set to Announce Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is set to post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Open Text to post earnings of $1.00 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Thursday, February 1st. The software maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. Open Text had a net margin of 2.24% and a return on equity of 22.99%. On average, analysts expect Open Text to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Open Text Stock Performance

NASDAQ:OTEX opened at $35.31 on Wednesday. The company has a fifty day moving average of $37.60 and a 200-day moving average of $38.78. The firm has a market capitalization of $9.62 billion, a P/E ratio of 75.13 and a beta of 1.09. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.10. Open Text has a twelve month low of $32.04 and a twelve month high of $45.47.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Open Text in a research note on Tuesday, February 27th. They set a “buy” rating and a $45.00 price target for the company. TD Securities boosted their price target on shares of Open Text from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Citigroup dropped their price objective on shares of Open Text from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Open Text in a report on Friday, February 2nd. Finally, CIBC upped their price objective on shares of Open Text from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.25.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.