Equities analysts expect Magic Software Enterprises Ltd (NASDAQ:MGIC) to announce $63.75 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Magic Software Enterprises’ earnings, with the highest sales estimate coming in at $65.00 million and the lowest estimate coming in at $62.50 million. Magic Software Enterprises posted sales of $55.14 million during the same quarter last year, which suggests a positive year over year growth rate of 15.6%. The business is expected to announce its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that Magic Software Enterprises will report full year sales of $63.75 million for the current financial year, with estimates ranging from $254.40 million to $256.90 million. For the next fiscal year, analysts expect that the business will post sales of $282.65 million per share, with estimates ranging from $282.30 million to $283.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings results on Tuesday, November 14th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.03). The company had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.65 million. Magic Software Enterprises had a net margin of 4.77% and a return on equity of 10.37%. Magic Software Enterprises’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS.

Several brokerages have issued reports on MGIC. ValuEngine raised shares of Magic Software Enterprises from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Zacks Investment Research downgraded shares of Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Barclays reissued a “buy” rating and set a $10.50 target price on shares of Magic Software Enterprises in a research note on Thursday, November 16th. Finally, HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the company a “buy” rating in a research note on Monday, November 20th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.81.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Magic Software Enterprises by 12.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,202,004 shares of the software maker’s stock valued at $10,457,000 after acquiring an additional 134,013 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Magic Software Enterprises by 0.9% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,196,982 shares of the software maker’s stock valued at $10,414,000 after acquiring an additional 10,962 shares during the period. Edmond DE Rothschild Holding S.A. boosted its holdings in Magic Software Enterprises by 39.1% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 101,539 shares of the software maker’s stock valued at $807,000 after acquiring an additional 28,539 shares during the period. Bank of New York Mellon Corp boosted its holdings in Magic Software Enterprises by 9.5% during the third quarter. Bank of New York Mellon Corp now owns 74,892 shares of the software maker’s stock valued at $652,000 after acquiring an additional 6,526 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in Magic Software Enterprises during the third quarter valued at about $518,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.

Magic Software Enterprises (NASDAQ:MGIC) opened at $8.05 on Friday. The stock has a market capitalization of $360.34, a price-to-earnings ratio of 16.88 and a beta of 0.65. Magic Software Enterprises has a twelve month low of $6.65 and a twelve month high of $9.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.45 and a quick ratio of 3.45.

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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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Earnings History and Estimates for Magic Software Enterprises (NASDAQ:MGIC)

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