Open Text (OTEX) Expected to Announce Quarterly Earnings on Thursday

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect Open Text to post earnings of $0.92 per share and revenue of $1.32 billion for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. Open Text had a net margin of 8.35% and a return on equity of 24.34%. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business's revenue was down 11.0% compared to the same quarter last year. On average, analysts expect Open Text to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Open Text Trading Up 3.1 %

Shares of NASDAQ OTEX traded up $0.92 during mid-day trading on Thursday, hitting $30.15. 257,408 shares of the company traded hands, compared to its average volume of 534,581. The business has a 50 day moving average of $28.94 and a two-hundred day moving average of $30.70. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 17.44 and a beta of 1.12. Open Text has a 1 year low of $26.84 and a 1 year high of $45.47. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group started coverage on Open Text in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $32.00 target price on the stock. BMO Capital Markets dropped their price objective on Open Text from $33.00 to $32.00 and set a "market perform" rating on the stock in a report on Friday, November 1st. TD Securities decreased their target price on shares of Open Text from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, December 30th. Scotiabank decreased their target price on shares of Open Text from $40.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered shares of Open Text from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $45.00 to $33.00 in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Open Text presently has an average rating of "Hold" and an average price target of $35.27.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.