Magic Software Enterprises Ltd. (MGIC) Reaches New 12-Month High at $7.84
Magic Software Enterprises Ltd. (NASDAQ:MGIC) reached a new 52-week high during trading on Monday . The company traded as high as $7.84 and last traded at $7.62, with a volume of 121,324 shares trading hands. The stock had previously closed at $7.80.
MGIC has been the subject of a number of analyst reports. Zacks Investment Research lowered Magic Software Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Barclays PLC set a $9.00 price target on Magic Software Enterprises and gave the company a “buy” rating in a research report on Thursday, August 11th.
The firm has a market capitalization of $336.07 million and a PE ratio of 22.397. The stock’s 50-day moving average price is $7.25 and its 200 day moving average price is $6.79.
Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. The firm earned $47.40 million during the quarter, compared to analysts’ expectations of $45.07 million. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. Analysts expect that Magic Software Enterprises Ltd. will post $0.51 earnings per share for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th will be given a $0.085 dividend. The ex-dividend date is Tuesday, September 6th.
Magic Software Enterprises Ltd. is a provider of application development, business process integration, and selected vertical software solutions and related professional services. The Company is also a vendor of information technology (IT) outsourcing services. The Company operates through two business segments: software services and IT professional services.
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