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
(
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.
Featured Stories
Before you consider Magic Software Enterprises, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magic Software Enterprises wasn't on the list.
While Magic Software Enterprises currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
