Magic Software Enterprises Ltd (NASDAQ:MGIC) – William Blair lowered their Q3 2019 earnings estimates for Magic Software Enterprises in a report issued on Tuesday, November 13th. William Blair analyst B. Suri now forecasts that the software maker will earn $0.16 per share for the quarter, down from their previous estimate of $0.17. William Blair also issued estimates for Magic Software Enterprises’ Q4 2019 earnings at $0.16 EPS.

MGIC has been the subject of a number of other reports. BidaskClub raised Magic Software Enterprises from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. HC Wainwright set a $10.00 price objective on Magic Software Enterprises and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research cut Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.00.

Shares of Magic Software Enterprises stock opened at $8.34 on Wednesday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.12. Magic Software Enterprises has a 12 month low of $7.75 and a 12 month high of $9.25. The firm has a market cap of $409.56 million, a P/E ratio of 18.13 and a beta of 0.82.

Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings data on Tuesday, November 13th. The software maker reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Magic Software Enterprises had a return on equity of 10.92% and a net margin of 6.59%. The company had revenue of $72.14 million for the quarter, compared to analyst estimates of $73.35 million.

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Magic Software Enterprises during the second quarter worth $259,000. Ramsey Quantitative Systems grew its stake in Magic Software Enterprises by 54.4% in the third quarter. Ramsey Quantitative Systems now owns 60,989 shares of the software maker’s stock valued at $518,000 after acquiring an additional 21,479 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its stake in Magic Software Enterprises by 90.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,512,090 shares of the software maker’s stock valued at $21,353,000 after acquiring an additional 1,196,218 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Magic Software Enterprises by 0.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,292,389 shares of the software maker’s stock valued at $10,985,000 after acquiring an additional 10,968 shares during the period. Finally, Delek Group Ltd. grew its stake in Magic Software Enterprises by 105.1% in the second quarter. Delek Group Ltd. now owns 366,684 shares of the software maker’s stock valued at $3,043,000 after acquiring an additional 187,943 shares during the period. 12.74% of the stock is owned by institutional investors and hedge funds.

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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