Equities analysts expect Magic Software Enterprises Ltd. (NASDAQ:MGIC) to report $102.20 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Magic Software Enterprises’ earnings, with the lowest sales estimate coming in at $100.00 million and the highest estimate coming in at $104.40 million. Magic Software Enterprises reported sales of $85.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 25th.
On average, analysts expect that Magic Software Enterprises will report full year sales of $422.60 million for the current financial year, with estimates ranging from $420.00 million to $425.20 million. For the next year, analysts expect that the business will report sales of $469.70 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last released its quarterly earnings results on Sunday, March 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $104.57 million for the quarter, compared to the consensus estimate of $94.65 million. Magic Software Enterprises had a return on equity of 12.69% and a net margin of 4.85%.
Hedge funds have recently made changes to their positions in the business. Morgan Stanley grew its stake in shares of Magic Software Enterprises by 265.7% in the 3rd quarter. Morgan Stanley now owns 3,584 shares of the software maker’s stock valued at $47,000 after purchasing an additional 2,604 shares during the last quarter. BlackRock Inc. grew its stake in shares of Magic Software Enterprises by 25.5% in the 3rd quarter. BlackRock Inc. now owns 16,315 shares of the software maker’s stock valued at $214,000 after purchasing an additional 3,318 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Magic Software Enterprises by 31.6% in the 4th quarter. Ritholtz Wealth Management now owns 14,816 shares of the software maker’s stock valued at $232,000 after purchasing an additional 3,554 shares during the last quarter. Credit Suisse AG purchased a new position in shares of Magic Software Enterprises in the 4th quarter valued at approximately $267,000. Finally, Sawtooth Solutions LLC boosted its stake in shares of Magic Software Enterprises by 4.7% in the fourth quarter. Sawtooth Solutions LLC now owns 17,293 shares of the software maker’s stock valued at $271,000 after buying an additional 783 shares in the last quarter. Institutional investors own 17.78% of the company’s stock.
NASDAQ:MGIC traded up $0.12 during mid-day trading on Monday, reaching $15.97. 134 shares of the stock were exchanged, compared to its average volume of 59,466. The company has a 50 day simple moving average of $16.34 and a 200-day simple moving average of $15.28. The stock has a market capitalization of $781.56 million, a P/E ratio of 45.29 and a beta of 1.29. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.07. Magic Software Enterprises has a 1 year low of $8.33 and a 1 year high of $18.35.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, April 7th. Shareholders of record on Thursday, March 25th were paid a $0.21 dividend. This is an increase from Magic Software Enterprises’s previous Semi-Annual dividend of $0.18. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, March 24th. Magic Software Enterprises’s dividend payout ratio (DPR) is 72.41%.
About Magic Software Enterprises
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and information technologies (IT) outsourcing software 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.
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