Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) announced a semi-annual dividend on Monday, March 17th, Wall Street Journal reports. Investors of record on Tuesday, April 22nd will be given a dividend of 0.327 per share by the software maker on Wednesday, May 7th. This represents a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a 38.6% increase from Magic Software Enterprises's previous semi-annual dividend of $0.24.
Magic Software Enterprises has decreased its dividend by an average of 0.3% annually over the last three years. Magic Software Enterprises has a payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Magic Software Enterprises to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 65.7%.
Magic Software Enterprises Price Performance
Shares of NASDAQ MGIC traded up $0.07 during midday trading on Wednesday, reaching $13.97. The company's stock had a trading volume of 71,160 shares, compared to its average volume of 70,552. The business's 50 day moving average price is $12.73 and its two-hundred day moving average price is $11.93. Magic Software Enterprises has a fifty-two week low of $9.51 and a fifty-two week high of $14.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $685.67 million, a P/E ratio of 19.95 and a beta of 1.11.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last issued its earnings results on Tuesday, March 11th. The software maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The firm had revenue of $142.58 million during the quarter, compared to analyst estimates of $137.00 million. Magic Software Enterprises had a net margin of 6.49% and a return on equity of 15.42%. On average, analysts forecast that Magic Software Enterprises will post 0.95 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. William Blair downgraded Magic Software Enterprises from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Barclays raised their target price on Magic Software Enterprises from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Finally, StockNews.com raised shares of Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 13th.
Check Out Our Latest Stock Report on Magic Software Enterprises
About Magic Software Enterprises
(
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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. Its 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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