Open Text Sets New 1-Year High at $104.56 (OTEX)
Open Text (NASDAQ:OTEX) shares reached a new 52-week high during trading on Tuesday , Analyst Ratings.Net reports. The company traded as high as $104.56 and last traded at $102.02, with a volume of 183,486 shares changing hands. The stock had previously closed at $102.05.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Open Text from C$90.00 to C$98.00 in a research note on Friday, January 24th. They now have a “market perform” rating on the stock. Separately, analysts at TD Securities raised their price target on shares of Open Text from C$100.00 to C$115.00 in a research note on Friday, January 24th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Open Text from $110.00 to $120.00 in a research note on Friday, January 24th. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $94.91.
The stock’s 50-day moving average is $95. and its 200-day moving average is $82.07. The company has a market cap of $5.998 billion and a P/E ratio of 40.00.
Open Text (NASDAQ:OTEX) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.51 by $0.07. The company had revenue of $363.50 million for the quarter, compared to the consensus estimate of $352.70 million. During the same quarter last year, the company posted $1.58 earnings per share. Open Text’s revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Open Text will post $6.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, February 21st.
Open Text Corporation (NASDAQ:OTEX), is engaged in providing a suite of information management software products.
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