Magic Software Enterprises Ltd. (NASDAQ:MGIC) – Analysts at William Blair lowered their FY2017 earnings per share (EPS) estimates for shares of Magic Software Enterprises in a research report issued to clients and investors on Tuesday. William Blair analyst B. Suri now expects that the software maker will post earnings per share of $0.50 for the year, down from their previous forecast of $0.55. William Blair also issued estimates for Magic Software Enterprises’ Q4 2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.60 EPS.

Other equities analysts have also issued research reports about the company. BidaskClub lowered Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Tuesday, September 5th. HC Wainwright set a $10.00 price target on Magic Software Enterprises and gave the company a “buy” rating in a research note on Thursday, August 10th. Barclays PLC reaffirmed a “buy” rating and set a $10.50 price target on shares of Magic Software Enterprises in a research note on Thursday. Finally, ValuEngine upgraded Magic Software Enterprises from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.81.

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Magic Software Enterprises (NASDAQ:MGIC) opened at $8.60 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.55 and a current ratio of 3.55. Magic Software Enterprises has a one year low of $6.65 and a one year high of $9.50. The stock has a market capitalization of $388.89, a price-to-earnings ratio of 18.54 and a beta of 0.70.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings results on Tuesday, November 14th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). Magic Software Enterprises had a net margin of 4.77% and a return on equity of 10.42%. The firm had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.65 million. During the same period last year, the company earned $0.12 EPS. The company’s revenue was up 20.6% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Magic Software Enterprises by 41.3% in the third quarter. Dimensional Fund Advisors LP now owns 28,067 shares of the software maker’s stock valued at $246,000 after purchasing an additional 8,209 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in Magic Software Enterprises by 0.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,196,982 shares of the software maker’s stock valued at $10,414,000 after purchasing an additional 10,962 shares during the last quarter. Macquarie Group Ltd. bought a new stake in Magic Software Enterprises in the third quarter valued at about $518,000. Bank of New York Mellon Corp increased its holdings in Magic Software Enterprises by 9.5% in the third quarter. Bank of New York Mellon Corp now owns 74,892 shares of the software maker’s stock valued at $652,000 after purchasing an additional 6,526 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Magic Software Enterprises by 12.5% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,202,004 shares of the software maker’s stock valued at $10,457,000 after purchasing an additional 134,013 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

Earnings History and Estimates for Magic Software Enterprises (NASDAQ:MGIC)

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