Magic Software Enterprises (MGIC) to Release Quarterly Earnings on Wednesday

Magic Software Enterprises (NASDAQ:MGIC) will be releasing its earnings data before the market opens on Wednesday, August 14th. Analysts expect Magic Software Enterprises to post earnings of $0.22 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Magic Software Enterprises (NASDAQ:MGIC) last posted its earnings results on Thursday, May 16th. The software maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $130.72 million during the quarter, compared to the consensus estimate of $126.80 million. Magic Software Enterprises had a net margin of 6.83% and a return on equity of 16.36%. On average, analysts expect Magic Software Enterprises to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Magic Software Enterprises Stock Down 2.6 %

Magic Software Enterprises stock opened at $10.04 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. Magic Software Enterprises has a 1-year low of $8.15 and a 1-year high of $12.99. The firm’s fifty day simple moving average is $10.57 and its 200-day simple moving average is $11.06. The company has a market capitalization of $492.95 million, a P/E ratio of 13.75 and a beta of 1.06.

Magic Software Enterprises Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, July 11th. Shareholders of record on Thursday, June 27th were given a dividend of $0.204 per share. This represents a yield of 3.5%. The ex-dividend date was Thursday, June 27th. Magic Software Enterprises’s payout ratio is 54.79%.

Analyst Ratings Changes

Separately, StockNews.com raised Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 27th.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud based services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.