Equities research analysts expect that Magic Software Enterprises Ltd (NASDAQ:MGIC) will report earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Magic Software Enterprises’ earnings, with estimates ranging from $0.12 to $0.14. Magic Software Enterprises posted earnings of $0.10 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 30%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that Magic Software Enterprises will report full year earnings of $0.55 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.59. For the next fiscal year, analysts anticipate that the business will post earnings of $0.64 per share, with EPS estimates ranging from $0.60 to $0.67. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last issued its earnings results on Tuesday, November 14th. The software maker reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). The firm had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.65 million. Magic Software Enterprises had a return on equity of 7.40% and a net margin of 7.04%. Magic Software Enterprises’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share.
Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Magic Software Enterprises by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after purchasing an additional 2,000 shares during the last quarter. AXA acquired a new position in shares of Magic Software Enterprises in the second quarter valued at $176,000. Macquarie Group Ltd. acquired a new position in shares of Magic Software Enterprises in the third quarter valued at $518,000. Naples Global Advisors LLC acquired a new position in shares of Magic Software Enterprises in the fourth quarter valued at $560,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Magic Software Enterprises in the second quarter valued at $544,000. Hedge funds and other institutional investors own 9.32% of the company’s stock.
Shares of Magic Software Enterprises (NASDAQ:MGIC) traded down $0.15 on Friday, reaching $9.00. 29,976 shares of the company were exchanged, compared to its average volume of 27,323. The firm has a market capitalization of $407.07, a P/E ratio of 33.33 and a beta of 0.65. Magic Software Enterprises has a fifty-two week low of $6.75 and a fifty-two week high of $9.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.45 and a current 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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