Magic Software Enterprises Ltd. (NASDAQ:MGIC - Get Free Report) announced a semi-annual dividend on Monday, March 17th, Wall Street Journal reports. Stockholders 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 dividend 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% per year over the last three years. Magic Software Enterprises has a payout ratio of 44.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.47 annual dividend with an expected future payout ratio of 47.5%.
Magic Software Enterprises Stock Up 2.4 %
NASDAQ MGIC traded up $0.33 on Monday, hitting $14.21. 123,679 shares of the company were exchanged, compared to its average volume of 54,780. Magic Software Enterprises has a 12 month low of $9.51 and a 12 month high of $14.25. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The company has a market cap of $697.70 million, a PE ratio of 20.35 and a beta of 1.11. The stock has a fifty day moving average of $12.65 and a 200-day moving average of $11.89.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Magic Software Enterprises had a return on equity of 15.42% and a net margin of 6.49%. The company had revenue of $142.58 million for the quarter, compared to the consensus estimate of $137.00 million. As a group, analysts forecast that Magic Software Enterprises will post 0.95 earnings per share for the current year.
Wall Street Analyst Weigh In
MGIC has been the topic of a number of research reports. William Blair lowered Magic Software Enterprises from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. StockNews.com upgraded shares of Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Finally, Barclays raised their price objective on shares of Magic Software Enterprises from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Thursday.
Check Out Our Latest Stock Analysis on Magic Software Enterprises
Magic Software Enterprises Company Profile
(
Get Free Report)
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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