Magic Software Enterprises (MGIC) to Release Earnings on Wednesday

Magic Software Enterprises (NASDAQ:MGIC) will release its earnings data before the market opens on Wednesday, August 14th. Analysts expect Magic Software Enterprises to post earnings of $0.22 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Magic Software Enterprises (NASDAQ:MGIC) last released its earnings results on Thursday, May 16th. The software maker reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Magic Software Enterprises had a net margin of 6.83% and a return on equity of 16.36%. The firm had revenue of $130.72 million for the quarter, compared to analyst estimates of $126.80 million. On average, analysts expect Magic Software Enterprises to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Magic Software Enterprises Price Performance

Shares of NASDAQ MGIC opened at $10.04 on Tuesday. The stock’s 50-day simple moving average is $10.57 and its 200-day simple moving average is $11.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $492.95 million, a PE ratio of 13.75 and a beta of 1.06. Magic Software Enterprises has a fifty-two week low of $8.15 and a fifty-two week high of $12.99.

Magic Software Enterprises Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, July 11th. Stockholders of record on Thursday, June 27th were issued a $0.204 dividend. This represents a dividend yield of 3.5%. The ex-dividend date was Thursday, June 27th. Magic Software Enterprises’s payout ratio is currently 54.79%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud based services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.