Open Text Corp. (OTEX) Expected to Earn Q1 2017 Earnings of $0.52 Per Share
Open Text Corp. (NASDAQ:OTEX) – Investment analysts at National Bank Financial issued their Q1 2017 earnings per share estimates for Open Text Corp. in a research note issued to investors on Monday. National Bank Financial analyst K. Thompson anticipates that the brokerage will earn $0.52 per share for the quarter. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Open Text Corp.’s Q2 2017 earnings at $0.67 EPS and Q4 2017 earnings at $0.76 EPS.
Open Text Corp. (NASDAQ:OTEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by $0.05. The firm earned $484 million during the quarter, compared to analysts’ expectations of $482.67 million. Open Text Corp. had a net margin of 15.59% and a return on equity of 21.84%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS.
OTEX has been the topic of a number of other research reports. BMO Capital Markets raised shares of Open Text Corp. from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $63.00 to $73.00 in a research report on Tuesday, September 13th. Dundee Securities raised shares of Open Text Corp. from a “neutral” rating to a “buy” rating in a research report on Monday, September 12th. Benchmark Co. boosted their price objective on shares of Open Text Corp. from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Royal Bank Of Canada upped their price target on shares of Open Text Corp. from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 21st. Finally, Zacks Investment Research raised shares of Open Text Corp. from a “hold” rating to a “strong-buy” rating and set a $72.00 price target on the stock in a research report on Thursday, July 21st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.56.
Shares of Open Text Corp. (NASDAQ:OTEX) opened at 64.88 on Thursday. The stock has a market cap of $7.84 billion, a P/E ratio of 27.85 and a beta of 0.99. Open Text Corp. has a 12 month low of $41.93 and a 12 month high of $66.84. The company has a 50 day moving average of $63.77 and a 200 day moving average of $58.63.
Several institutional investors have recently modified their holdings of OTEX. Acadian Asset Management LLC bought a new position in shares of Open Text Corp. during the second quarter valued at $21,711,000. Boston Advisors LLC raised its position in shares of Open Text Corp. by 35.8% in the second quarter. Boston Advisors LLC now owns 277,531 shares of the company’s stock valued at $16,419,000 after buying an additional 73,114 shares during the last quarter. HBK Investments L P bought a new position in shares of Open Text Corp. during the first quarter valued at $876,000. Legal & General Group Plc raised its position in shares of Open Text Corp. by 32.3% in the first quarter. Legal & General Group Plc now owns 77,086 shares of the company’s stock valued at $4,009,000 after buying an additional 18,800 shares during the last quarter. Finally, AXA raised its position in shares of Open Text Corp. by 48.6% in the first quarter. AXA now owns 62,964 shares of the company’s stock valued at $3,276,000 after buying an additional 20,600 shares during the last quarter. 69.41% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, August 24th. Open Text Corp.’s payout ratio is presently 39.32%.
About Open Text Corp.
Open Text Corporation is a Canada-based company operating in enterprise information market (EIM). The Company provides software products and services to organizations in finding, utilizing and sharing business information. The Company’s products and services include enterprise content management (ECM), business process management (BPM), customer experience management (CEM), information exchange (iX), discovery, and analytics and reporting.
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