Magic Software Enterprises Ltd (MGIC) Expected to Post Earnings of $0.14 Per Share

Brokerages expect Magic Software Enterprises Ltd (NASDAQ:MGIC) to announce $0.14 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Magic Software Enterprises’ earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.13. Magic Software Enterprises also posted earnings of $0.14 per share in the same quarter last year. The business is scheduled to issue its next earnings results on Wednesday, May 15th.

According to Zacks, analysts expect that Magic Software Enterprises will report full-year earnings of $0.60 per share for the current fiscal year, with EPS estimates ranging from $0.59 to $0.60. For the next fiscal year, analysts forecast that the company will report earnings of $0.66 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings data on Monday, March 4th. The software maker reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). Magic Software Enterprises had a return on equity of 11.06% and a net margin of 6.99%. The company had revenue of $72.29 million for the quarter, compared to the consensus estimate of $73.75 million.

MGIC has been the topic of a number of research analyst reports. BidaskClub raised Magic Software Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. HC Wainwright set a $10.00 price objective on Magic Software Enterprises and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research raised Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Magic Software Enterprises presently has an average rating of “Hold” and a consensus target price of $9.75.

Magic Software Enterprises stock remained flat at $$9.20 during mid-day trading on Tuesday. The company’s stock had a trading volume of 11,788 shares, compared to its average volume of 25,429. Magic Software Enterprises has a 12-month low of $7.29 and a 12-month high of $9.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.91 and a current ratio of 3.99. The company has a market cap of $449.80 million, a price-to-earnings ratio of 16.73 and a beta of 0.85.

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, March 27th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09. Magic Software Enterprises’s payout ratio is presently 54.55%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Magic Software Enterprises by 20.2% during the 4th quarter. Van ECK Associates Corp now owns 9,359 shares of the software maker’s stock worth $71,000 after buying an additional 1,571 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Magic Software Enterprises by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 36,557 shares of the software maker’s stock worth $279,000 after buying an additional 2,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Magic Software Enterprises by 22.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,024 shares of the software maker’s stock worth $153,000 after buying an additional 3,715 shares during the period. ETF Managers Group LLC lifted its holdings in Magic Software Enterprises by 18.2% during the 4th quarter. ETF Managers Group LLC now owns 38,333 shares of the software maker’s stock worth $295,000 after buying an additional 5,890 shares during the period. Finally, Naples Global Advisors LLC lifted its holdings in Magic Software Enterprises by 8.1% during the 4th quarter. Naples Global Advisors LLC now owns 127,049 shares of the software maker’s stock worth $1,002,000 after buying an additional 9,508 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

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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