Magic Software Enterprises Ltd. (NASDAQ:MGIC – Get Free Report) declared a semi-annual dividend on Monday, March 17th, Wall Street Journal reports. Shareholders 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 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 payment by an average of 0.3% annually over the last three years. Magic Software Enterprises has a payout ratio of 44.8% meaning 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 $0.47 annual dividend with an expected future payout ratio of 47.5%.
Magic Software Enterprises Stock Up 2.4 %
Shares of MGIC stock traded up $0.33 on Monday, hitting $14.21. The stock had a trading volume of 123,679 shares, 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 stock has a market cap of $697.70 million, a price-to-earnings ratio of 20.35 and a beta of 1.11. The business has a 50 day moving average of $12.65 and a 200 day moving average of $11.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.76.
Analyst Ratings Changes
Several research firms have weighed in on MGIC. StockNews.com raised Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Barclays increased their price target on shares of Magic Software Enterprises from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, William Blair downgraded shares of Magic Software Enterprises from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th.
Check Out Our Latest Stock Report on Magic Software Enterprises
Magic Software Enterprises Company Profile
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.
Recommended Stories
- Five stocks we like better than Magic Software Enterprises
- What Are Trending Stocks? Trending Stocks Explained
- Can TikTok Stock Picks Really Make You Rich?
- Energy and Oil Stocks Explained
- The “Quality” Rotation: Back to Basics Investing
- What Are Treasury Bonds?
- Occidental Petroleum: 4 Reasons to Love These Prices
Receive News & Ratings for Magic Software Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magic Software Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.