Open Text Corporation (OTEX) Getting Somewhat Positive Media Coverage, Study Shows
Media headlines about Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) have been trending somewhat positive recently, according to Accern Sentiment. Accern scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Open Text Corporation earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 47.252218221565 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Open Text Corporation (NASDAQ OTEX) traded down 0.31% on Monday, hitting $32.14. 1,180,459 shares of the company traded hands. The firm has a market capitalization of $8.45 billion, a PE ratio of 8.01 and a beta of 0.48. Open Text Corporation has a 1-year low of $29.30 and a 1-year high of $35.21. The firm’s 50 day moving average price is $32.38 and its 200 day moving average price is $32.91.
Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.07). Open Text Corporation had a net margin of 44.77% and a return on equity of 8.92%. The company had revenue of $663.60 million for the quarter, compared to analysts’ expectations of $662.36 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. Equities research analysts predict that Open Text Corporation will post $2.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.132 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.64%. Open Text Corporation’s payout ratio is currently 12.74%.
Several brokerages have recently weighed in on OTEX. BidaskClub upgraded Open Text Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Royal Bank Of Canada reiterated a “buy” rating and set a $40.00 price target on shares of Open Text Corporation in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Open Text Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC upped their price target on Open Text Corporation from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price target on shares of Open Text Corporation in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Open Text Corporation currently has an average rating of “Buy” and a consensus price target of $42.11.
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About Open Text Corporation
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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