Magic Software Enterprises (MGIC) Receives Daily News Impact Score of 0.15
Media stories about Magic Software Enterprises (NASDAQ:MGIC) have been trending somewhat positive this week, Accern Sentiment reports. The research group identifies negative and positive news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Magic Software Enterprises earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned news articles about the software maker an impact score of 45.8389110277577 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of Magic Software Enterprises (MGIC) traded up 1.20% during mid-day trading on Tuesday, reaching $8.40. The company’s stock had a trading volume of 45,213 shares. Magic Software Enterprises has a 52 week low of $6.51 and a 52 week high of $8.70. The company’s 50-day moving average is $7.94 and its 200-day moving average is $7.94. The stock has a market capitalization of $370.71 million, a price-to-earnings ratio of 31.11 and a beta of 0.63.
Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Wednesday, August 9th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $65.50 million for the quarter, compared to analyst estimates of $52.65 million. Magic Software Enterprises had a return on equity of 10.49% and a net margin of 5.08%. The business’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 earnings per share. Equities analysts predict that Magic Software Enterprises will post $0.56 EPS for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.13 per share. This is a positive change from Magic Software Enterprises’s previous semiannual dividend of $0.10. The ex-dividend date is Tuesday, August 29th. This represents a dividend yield of 3.25%. Magic Software Enterprises’s dividend payout ratio (DPR) is presently 96.30%.
A number of analysts have commented on the company. ValuEngine raised Magic Software Enterprises from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Tuesday, September 5th. HC Wainwright set a $10.00 price target on Magic Software Enterprises and gave the stock a “buy” rating in a research report on Thursday, August 10th. BidaskClub cut Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $10.00 price target (up previously from $9.50) on shares of Magic Software Enterprises in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Magic Software Enterprises presently has an average rating of “Buy” and an average price target of $9.69.
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About Magic Software Enterprises
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.
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