Magic Software Enterprises Ltd. (NASDAQ:MGIC) Declares Quarterly Dividend of $0.15

Magic Software Enterprises Ltd. (NASDAQ:MGIC) declared a quarterly dividend on Tuesday, November 18th. Stockholders of record on Monday, December 15th will be given a dividend of 0.151 per share by the software maker on Tuesday, December 30th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, December 15th.

Magic Software Enterprises has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Magic Software Enterprises has a dividend payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Magic Software Enterprises to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.59 annual dividend with an expected future payout ratio of 59.6%.

Magic Software Enterprises Stock Performance

Shares of MGIC opened at $22.64 on Thursday. Magic Software Enterprises has a 12-month low of $10.83 and a 12-month high of $24.94. The stock has a market capitalization of $1.11 billion, a P/E ratio of 29.03 and a beta of 0.90. The firm’s 50 day moving average is $20.87 and its 200-day moving average is $19.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.61.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings results on Tuesday, November 18th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The business had revenue of $161.70 million during the quarter, compared to analyst estimates of $154.80 million. Magic Software Enterprises had a return on equity of 15.85% and a net margin of 6.58%. Magic Software Enterprises has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Magic Software Enterprises will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MGIC shares. Weiss Ratings began coverage on Magic Software Enterprises in a research report on Monday, November 10th. They set a “hold (c)” rating on the stock. Barclays lifted their price target on Magic Software Enterprises from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Zacks Research lowered shares of Magic Software Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Wall Street Zen cut shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Magic Software Enterprises has a consensus rating of “Hold” and a consensus target price of $18.00.

About Magic Software Enterprises

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. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.