Equities analysts predict that Magic Software Enterprises Ltd (NASDAQ:MGIC) will post sales of $83.45 million for the current quarter, according to Zacks. Two analysts have made estimates for Magic Software Enterprises’ earnings, with the highest sales estimate coming in at $83.90 million and the lowest estimate coming in at $83.00 million. Magic Software Enterprises posted sales of $72.29 million in the same quarter last year, which suggests a positive year over year growth rate of 15.4%. The firm is expected to issue its next earnings report on Monday, March 2nd.
On average, analysts expect that Magic Software Enterprises will report full year sales of $318.15 million for the current financial year, with estimates ranging from $317.70 million to $318.60 million. For the next year, analysts anticipate that the firm will post sales of $351.95 million, with estimates ranging from $344.00 million to $359.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Magic Software Enterprises.
Magic Software Enterprises (NASDAQ:MGIC) last posted its quarterly earnings results on Thursday, November 14th. The software maker reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $85.84 million during the quarter, compared to analyst estimates of $80.05 million. Magic Software Enterprises had a net margin of 6.41% and a return on equity of 10.95%.
Large investors have recently modified their holdings of the stock. Optimum Investment Advisors bought a new position in shares of Magic Software Enterprises during the second quarter worth $27,000. BlackRock Inc. boosted its position in shares of Magic Software Enterprises by 286.9% during the second quarter. BlackRock Inc. now owns 6,310 shares of the software maker’s stock worth $57,000 after acquiring an additional 4,679 shares during the last quarter. Morgan Stanley boosted its position in shares of Magic Software Enterprises by 21.1% during the second quarter. Morgan Stanley now owns 8,425 shares of the software maker’s stock worth $76,000 after acquiring an additional 1,466 shares during the last quarter. Opus Capital Group LLC bought a new position in shares of Magic Software Enterprises during the second quarter worth $193,000. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Magic Software Enterprises during the third quarter worth $206,000. Hedge funds and other institutional investors own 11.90% of the company’s stock.
Shares of MGIC traded down $0.08 during mid-day trading on Monday, reaching $9.89. The stock had a trading volume of 8,556 shares, compared to its average volume of 30,482. The firm has a market cap of $483.29 million, a price-to-earnings ratio of 17.97 and a beta of 0.93. Magic Software Enterprises has a 12 month low of $7.29 and a 12 month high of $10.49. The business has a fifty day moving average of $9.56 and a 200 day moving average of $9.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.21 and a current ratio of 3.21.
Magic Software Enterprises Company Profile
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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