Analysts forecast that Magic Software Enterprises Ltd (NASDAQ:MGIC) will announce earnings per share of $0.15 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Magic Software Enterprises’ earnings. The highest EPS estimate is $0.15 and the lowest is $0.14. Magic Software Enterprises posted earnings of $0.14 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The firm is expected to report its next quarterly earnings report on Tuesday, November 12th.

On average, analysts expect that Magic Software Enterprises will report full year earnings of $0.59 per share for the current fiscal year, with EPS estimates ranging from $0.58 to $0.60. For the next fiscal year, analysts anticipate that the company will post earnings of $0.64 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Tuesday, August 13th. The software maker reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $77.06 million during the quarter, compared to the consensus estimate of $76.55 million. Magic Software Enterprises had a net margin of 7.21% and a return on equity of 10.83%.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. BidaskClub upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. ValuEngine cut shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Magic Software Enterprises in a report on Thursday, May 23rd.

Several institutional investors and hedge funds have recently made changes to their positions in MGIC. Optimum Investment Advisors acquired a new stake in Magic Software Enterprises during the 2nd quarter worth $27,000. BlackRock Inc. boosted its stake in Magic Software Enterprises by 286.9% during the 2nd quarter. BlackRock Inc. now owns 6,310 shares of the software maker’s stock worth $57,000 after purchasing an additional 4,679 shares during the last quarter. Morgan Stanley boosted its stake in Magic Software Enterprises by 21.1% during the 2nd quarter. Morgan Stanley now owns 8,425 shares of the software maker’s stock worth $76,000 after purchasing an additional 1,466 shares during the last quarter. Opus Capital Group LLC acquired a new stake in Magic Software Enterprises during the 2nd quarter worth $193,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Magic Software Enterprises by 11.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,574 shares of the software maker’s stock worth $211,000 after purchasing an additional 2,450 shares during the last quarter. 15.63% of the stock is currently owned by institutional investors.

MGIC stock traded up $0.49 during mid-day trading on Thursday, hitting $9.10. 39,932 shares of the company were exchanged, compared to its average volume of 24,046. The business has a 50 day simple moving average of $8.94. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.08. The firm has a market cap of $439.04 million, a PE ratio of 16.36 and a beta of 0.95. Magic Software Enterprises has a 1-year low of $7.29 and a 1-year high of $10.20.

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $0.156 per share. 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 (DPR) is currently 54.55%.

Magic Software Enterprises Company Profile

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

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