$0.63 EPS Expected for Open Text Corp (OTEX) This Quarter

Analysts expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will post earnings per share (EPS) of $0.63 for the current quarter, according to Zacks. Two analysts have provided estimates for Open Text’s earnings. Open Text reported earnings of $0.54 per share during the same quarter last year, which suggests a positive year over year growth rate of 16.7%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that Open Text will report full-year earnings of $2.41 per share for the current financial year, with EPS estimates ranging from $2.33 to $2.49. For the next financial year, analysts expect that the company will post earnings of $2.63 per share, with EPS estimates ranging from $2.36 to $2.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Thursday, November 2nd. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Open Text had a return on equity of 6.53% and a net margin of 6.12%.

Several equities analysts have recently issued reports on OTEX shares. Raymond James Financial lowered Open Text to an “underperform” rating and set a $40.00 target price for the company. in a research report on Wednesday, November 22nd. BidaskClub lowered Open Text from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Macquarie decreased their target price on Open Text from $43.00 to $40.00 in a research report on Thursday, November 23rd. Zacks Investment Research lowered Open Text from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Finally, CIBC boosted their target price on Open Text from $41.00 to $42.00 in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $42.27.

Several large investors have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Open Text by 2.8% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 18,056,800 shares of the software maker’s stock valued at $583,717,000 after purchasing an additional 500,000 shares in the last quarter. Jarislowsky Fraser Ltd lifted its holdings in shares of Open Text by 0.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 17,239,220 shares of the software maker’s stock valued at $554,956,000 after purchasing an additional 130,669 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Open Text by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,827,929 shares of the software maker’s stock valued at $215,124,000 after purchasing an additional 340,986 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Open Text by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,605,006 shares of the software maker’s stock valued at $176,781,000 after purchasing an additional 158,869 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Open Text by 50.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,819,976 shares of the software maker’s stock valued at $90,775,000 after purchasing an additional 947,585 shares in the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

Open Text (NASDAQ:OTEX) traded down $0.04 during trading on Friday, hitting $33.66. The stock had a trading volume of 316,719 shares, compared to its average volume of 655,377. The firm has a market cap of $8,936.12, a price-to-earnings ratio of 59.05 and a beta of 0.44. Open Text has a 52 week low of $30.88 and a 52 week high of $35.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74.

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About Open Text

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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