Open Text Corp (NASDAQ:OTEX) Expected to Post Earnings of $0.73 Per Share

Analysts expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will post $0.73 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Open Text’s earnings, with estimates ranging from $0.71 to $0.74. Open Text reported earnings per share of $0.72 during the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The company is scheduled to issue its next earnings results after the market closes on Thursday, August 1st.

On average, analysts expect that Open Text will report full year earnings of $2.77 per share for the current financial year, with EPS estimates ranging from $2.75 to $2.78. For the next financial year, analysts expect that the business will report earnings of $2.98 per share, with EPS estimates ranging from $2.95 to $3.01. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.19. The firm had revenue of $719.10 million during the quarter, compared to analysts’ expectations of $710.47 million. Open Text had a net margin of 9.57% and a return on equity of 7.31%. Open Text’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS.

Several equities analysts have weighed in on the stock. Benchmark restated a “buy” rating and set a $48.00 target price (up from $42.00) on shares of Open Text in a report on Thursday. Raymond James reaffirmed a “hold” rating on shares of PrairieSky Royalty in a research note on Thursday. BidaskClub raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.09.

Open Text stock traded down $0.45 during trading hours on Friday, reaching $42.50. 473,548 shares of the stock were exchanged, compared to its average volume of 546,354. The company’s 50 day moving average price is $41.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $11.48 billion, a PE ratio of 46.70 and a beta of 0.48. Open Text has a 52-week low of $30.99 and a 52-week high of $43.14.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 31st were issued a dividend of $0.1746 per share. This represents a $0.70 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from Open Text’s previous quarterly dividend of $0.12. Open Text’s payout ratio is presently 76.92%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Meridian Wealth Management LLC acquired a new stake in Open Text during the 1st quarter worth about $25,000. Zions Bancorporation N.A. acquired a new stake in Open Text during the 1st quarter worth about $27,000. Icon Wealth Partners LLC acquired a new position in shares of Open Text in the 1st quarter valued at about $46,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Open Text by 18.3% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,622 shares of the software maker’s stock valued at $101,000 after purchasing an additional 405 shares during the period. Finally, Bremer Bank National Association acquired a new position in shares of Open Text in the 1st quarter valued at about $109,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Open Text Company Profile

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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