Zacks: Brokerages Expect Magic Software Enterprises Ltd (NASDAQ:MGIC) to Announce $0.14 EPS

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Analysts expect that Magic Software Enterprises Ltd (NASDAQ:MGIC) will report earnings of $0.14 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Magic Software Enterprises’ earnings. The lowest EPS estimate is $0.13 and the highest is $0.14. Magic Software Enterprises reported earnings of $0.16 per share in the same quarter last year, which would suggest a negative year over year growth rate of 12.5%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, August 13th.

On average, analysts expect that Magic Software Enterprises will report full-year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.60. For the next fiscal year, analysts forecast that the business will report earnings of $0.64 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Magic Software Enterprises.

Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings results on Thursday, May 16th. The software maker reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Magic Software Enterprises had a net margin of 7.21% and a return on equity of 10.83%. The business had revenue of $71.80 million during the quarter, compared to analysts’ expectations of $75.30 million.

Several equities analysts have recently commented on MGIC shares. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Magic Software Enterprises in a report on Thursday, May 23rd. Zacks Investment Research upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. BidaskClub upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Finally, ValuEngine lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, July 11th.

Shares of Magic Software Enterprises stock traded down $0.10 during mid-day trading on Thursday, hitting $8.88. The stock had a trading volume of 284 shares, compared to its average volume of 11,523. The firm’s 50-day simple moving average is $8.95. Magic Software Enterprises has a 12-month low of $7.29 and a 12-month high of $10.20. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. The company has a market cap of $430.24 million, a price-to-earnings ratio of 16.29 and a beta of 0.95.

A number of institutional investors have recently added to or reduced their stakes in MGIC. Optimum Investment Advisors acquired a new stake in Magic Software Enterprises during the 2nd quarter worth approximately $27,000. Opus Capital Group LLC acquired a new stake in Magic Software Enterprises during the 2nd quarter worth approximately $193,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Magic Software Enterprises by 11.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,574 shares of the software maker’s stock worth $211,000 after buying an additional 2,450 shares in the last quarter. Seizert Capital Partners LLC acquired a new stake in Magic Software Enterprises during the 1st quarter worth approximately $228,000. Finally, Advisors Asset Management Inc. lifted its holdings in Magic Software Enterprises by 81.2% during the 1st quarter. Advisors Asset Management Inc. now owns 29,392 shares of the software maker’s stock worth $246,000 after buying an additional 13,173 shares in the last quarter. Institutional investors own 15.63% of the company’s stock.

About Magic Software Enterprises

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.

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

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