Wall Street analysts expect that Magic Software Enterprises Ltd (NASDAQ:MGIC) will report $0.14 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Magic Software Enterprises’ earnings. The highest EPS estimate is $0.17 and the lowest is $0.11. Magic Software Enterprises reported earnings of $0.12 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings results on Monday, March 2nd.

On average, analysts expect that Magic Software Enterprises will report full-year earnings of $0.59 per share for the current year, with EPS estimates ranging from $0.56 to $0.62. For the next fiscal year, analysts anticipate that the company will post earnings of $0.68 per share, with EPS estimates ranging from $0.64 to $0.71. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last announced its earnings results on Thursday, November 14th. The software maker reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Magic Software Enterprises had a net margin of 6.41% and a return on equity of 10.95%. The company had revenue of $85.84 million during the quarter, compared to the consensus estimate of $80.05 million.

A number of brokerages have weighed in on MGIC. BidaskClub raised shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Zacks Investment Research downgraded shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, HC Wainwright boosted their target price on shares of Magic Software Enterprises from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Several large investors have recently modified their holdings of the company. Phoenix Holdings Ltd. acquired a new stake in shares of Magic Software Enterprises during the 3rd quarter worth approximately $2,495,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Magic Software Enterprises during the 3rd quarter worth approximately $206,000. Naples Global Advisors LLC grew its position in shares of Magic Software Enterprises by 7.8% during the 3rd quarter. Naples Global Advisors LLC now owns 150,849 shares of the software maker’s stock worth $1,386,000 after buying an additional 10,850 shares during the period. Morgan Stanley grew its position in shares of 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 buying an additional 1,466 shares during the period. Finally, BlackRock Inc. grew its position in shares of 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 buying an additional 4,679 shares during the period. Institutional investors own 11.90% of the company’s stock.

Shares of NASDAQ MGIC opened at $10.07 on Friday. Magic Software Enterprises has a 1-year low of $7.29 and a 1-year high of $10.49. The company has a market cap of $494.78 million, a PE ratio of 18.31 and a beta of 0.93. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $9.49 and a two-hundred day moving average of $9.09.

About Magic Software Enterprises

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.

Featured Article: What are the advantages of the Stochastic Momentum Index?

Get a free copy of the Zacks research report on Magic Software Enterprises (MGIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Magic Software Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magic Software Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.