Open Text Corporation (OTEX) To Go Ex-Dividend on June 5th

Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Friday, June 5th will be paid a dividend of 0.275 per share by the software maker on Friday, June 19th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, June 5th.

Open Text has decreased its dividend by an average of 0.1%per year over the last three years. Open Text has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Open Text to earn $4.32 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 25.5%.

Open Text Price Performance

OTEX stock opened at $24.45 on Wednesday. The business’s 50-day moving average is $22.83 and its two-hundred day moving average is $27.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $5.93 billion, a P/E ratio of 11.96 and a beta of 1.05. Open Text has a 1 year low of $20.00 and a 1 year high of $39.90.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.07. Open Text had a return on equity of 24.77% and a net margin of 9.91%.The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Open Text will post 4.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OTEX has been the subject of several recent analyst reports. Scotia decreased their price objective on shares of Open Text from $50.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Friday, May 8th. Barclays increased their target price on Open Text from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Citigroup decreased their price target on Open Text from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, May 8th. National Bank Financial dropped their price objective on Open Text from $45.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Scotiabank cut their target price on Open Text from $50.00 to $40.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.67.

Open Text Company Profile

Open Text Corporation is a Canadian enterprise information management (EIM) software company that develops solutions for organizations seeking to manage, protect and extract insight from their unstructured and structured data. The company’s platform encompasses document management, records management, digital asset management and archiving, enabling companies to govern information across its lifecycle.

Open Text’s product suite includes content services, business process management, customer experience management, analytics and security products.