Magic Software Enterprises (NASDAQ:MGIC) issued an update on its FY 2021 earnings guidance on Monday morning. The company provided EPS guidance of – for the period. The company issued revenue guidance of $425 million-$435 million, compared to the consensus revenue estimate of $423.39 million.
Magic Software Enterprises stock opened at $16.11 on Monday. The business’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $15.76. The stock has a market cap of $788.41 million, a price-to-earnings ratio of 46.03 and a beta of 1.29. Magic Software Enterprises has a 12-month low of $9.45 and a 12-month high of $18.35. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.07.
Magic Software Enterprises (NASDAQ:MGIC) last issued its earnings results on Monday, May 10th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Magic Software Enterprises had a return on equity of 12.69% and a net margin of 4.85%. The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $102.20 million. As a group, sell-side analysts expect that Magic Software Enterprises will post 0.74 EPS for the current year.
A number of equities analysts have issued reports on the company. HC Wainwright raised their target price on Magic Software Enterprises from $17.00 to $20.00 and gave the stock a buy rating in a report on Monday, March 15th. Zacks Investment Research lowered Magic Software Enterprises from a buy rating to a hold rating in a research report on Tuesday, May 11th.
About Magic Software Enterprises
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and information technologies (IT) outsourcing software 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.
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