Magic Software Enterprises Ltd. (MGIC) to Issue Semiannual Dividend of $0.13
Magic Software Enterprises Ltd. (NASDAQ:MGIC) declared a semiannual dividend on Monday, August 14th, Wall Street Journal reports. Shareholders of record on Tuesday, August 29th will be given a dividend of 0.13 per share by the software maker on Wednesday, September 13th. This represents a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, August 29th. This is a boost from Magic Software Enterprises’s previous semiannual dividend of $0.10.
Magic Software Enterprises (NASDAQ MGIC) traded up 0.63% on Monday, reaching $8.00. The company’s stock had a trading volume of 47,469 shares. The stock has a market cap of $353.06 million, a PE ratio of 28.47 and a beta of 0.64. The company’s 50 day moving average price is $8.01 and its 200-day moving average price is $7.83. Magic Software Enterprises has a 12-month low of $6.51 and a 12-month high of $8.70.
Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Wednesday, August 9th. The software maker reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Magic Software Enterprises had a return on equity of 10.49% and a net margin of 5.08%. The company had revenue of $65.50 million during the quarter, compared to analyst estimates of $52.65 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Magic Software Enterprises’s revenue was up 38.2% compared to the same quarter last year. On average, equities analysts expect that Magic Software Enterprises will post $0.54 EPS for the current year.
Several analysts recently commented on the company. BidaskClub lowered Magic Software Enterprises from a “hold” rating to a “sell” rating in a report on Friday, July 28th. HC Wainwright set a $10.00 price objective on Magic Software Enterprises and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Saturday. Barclays PLC reaffirmed an “overweight” rating and issued a $10.00 price objective (up previously from $9.50) on shares of Magic Software Enterprises in a report on Wednesday, May 17th. Finally, Rodman & Renshaw reiterated a “buy” rating and set a $10.00 target price (up from $9.00) on shares of Magic Software Enterprises in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Magic Software Enterprises has a consensus rating of “Buy” and a consensus target price of $9.75.
About Magic Software Enterprises
Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.
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