Analysts predict that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will report earnings of $0.69 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Open Text’s earnings, with estimates ranging from $0.64 to $0.73. Open Text posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, August 2nd.
According to Zacks, analysts expect that Open Text will report full year earnings of $2.52 per share for the current year, with EPS estimates ranging from $2.46 to $2.57. For the next financial year, analysts forecast that the firm will post earnings of $2.78 per share, with EPS estimates ranging from $2.66 to $2.88. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Open Text.
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Open Text (NASDAQ:OTEX) (TSE:OTC) last released its quarterly earnings data on Wednesday, May 9th. The software maker reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.08). The business had revenue of $685.88 million for the quarter, compared to analyst estimates of $691.74 million. Open Text had a return on equity of 7.76% and a net margin of 8.32%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share.
A number of brokerages recently issued reports on OTEX. Scotiabank reissued an “outperform” rating and issued a $45.00 target price on shares of Open Text in a research report on Thursday, May 10th. ValuEngine raised Open Text from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. BidaskClub raised Open Text from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Zacks Investment Research cut Open Text from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, Royal Bank of Canada decreased their target price on Open Text from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $44.40.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Premia Global Advisors LLC acquired a new stake in shares of Open Text in the 1st quarter valued at about $108,000. Signaturefd LLC acquired a new stake in Open Text during the 1st quarter worth approximately $185,000. Elkfork Partners LLC acquired a new stake in Open Text during the 4th quarter worth approximately $193,000. Wetherby Asset Management Inc. acquired a new stake in Open Text during the 1st quarter worth approximately $219,000. Finally, A.R.T. Advisors LLC acquired a new stake in Open Text during the 1st quarter worth approximately $236,000. 67.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Open Text traded down $0.04, hitting $37.68, on Thursday, MarketBeat reports. 298,300 shares of the company’s stock were exchanged, compared to its average volume of 545,617. The stock has a market cap of $10.01 billion, a P/E ratio of 9.39 and a beta of 0.28. Open Text has a 1-year low of $31.00 and a 1-year high of $40.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.98 and a current ratio of 0.98.
The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 8th were given a $0.1518 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This is a boost from Open Text’s previous quarterly dividend of $0.13. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.61%. Open Text’s dividend payout ratio is 15.21%.
About Open Text
Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.
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