Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) announced its quarterly earnings data on Tuesday. The software maker reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01), Zacks reports. Magic Software Enterprises had a net margin of 6.49% and a return on equity of 15.42%.
Magic Software Enterprises Stock Performance
Shares of MGIC traded up $1.08 during mid-day trading on Tuesday, reaching $13.93. The company had a trading volume of 99,053 shares, compared to its average volume of 52,399. The stock has a 50 day moving average of $12.51 and a two-hundred day moving average of $11.80. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $683.80 million, a P/E ratio of 19.96 and a beta of 1.11. Magic Software Enterprises has a 52-week low of $9.51 and a 52-week high of $14.24.
Wall Street Analysts Forecast Growth
MGIC has been the topic of several research reports. StockNews.com downgraded shares of Magic Software Enterprises from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 26th. Barclays increased their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th.
Check Out Our Latest Report on MGIC
Magic Software Enterprises Company Profile
(
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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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