Analysts forecast that Magic Software Enterprises Ltd (NASDAQ:MGIC) will announce sales of $75.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Magic Software Enterprises’ earnings, with the highest sales estimate coming in at $76.60 million and the lowest estimate coming in at $74.00 million. Magic Software Enterprises posted sales of $69.73 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The firm is expected to issue its next earnings report before the market opens on Thursday, May 16th.
On average, analysts expect that Magic Software Enterprises will report full year sales of $313.90 million for the current financial year, with estimates ranging from $313.00 million to $314.80 million. For the next financial year, analysts expect that the firm will report sales of $345.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last released its earnings results on Monday, March 4th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $72.29 million for the quarter, compared to analyst estimates of $73.75 million.
MGIC traded up $0.02 during trading on Friday, reaching $8.98. 580 shares of the company’s stock were exchanged, compared to its average volume of 28,486. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.99 and a current ratio of 3.99. Magic Software Enterprises has a fifty-two week low of $7.29 and a fifty-two week high of $10.20. The firm has a market capitalization of $444.22 million, a PE ratio of 16.33 and a beta of 0.91.
Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Magic Software Enterprises by 20.2% in the fourth quarter. Van ECK Associates Corp now owns 9,359 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,571 shares in the last quarter. Advisors Asset Management Inc. bought a new position in Magic Software Enterprises in the fourth quarter worth about $124,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Magic Software Enterprises by 22.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,024 shares of the software maker’s stock worth $153,000 after purchasing an additional 3,715 shares in the last quarter. Seizert Capital Partners LLC bought a new position in Magic Software Enterprises in the first quarter worth about $228,000. Finally, Dimensional Fund Advisors LP raised its holdings in Magic Software Enterprises by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 36,557 shares of the software maker’s stock worth $279,000 after purchasing an additional 2,700 shares in the last quarter. 15.63% of the stock is 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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