Magic Software Enterprises (NASDAQ:MGIC – Get Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.
Magic Software Enterprises Trading Up 2.6 %
Shares of MGIC stock opened at $10.81 on Wednesday. Magic Software Enterprises has a 1-year low of $8.15 and a 1-year high of $12.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.69 and a quick ratio of 1.69. The business’s fifty day moving average price is $10.55 and its 200 day moving average price is $11.06. The firm has a market capitalization of $530.76 million, a PE ratio of 14.81 and a beta of 1.06.
Magic Software Enterprises (NASDAQ:MGIC – Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The software maker reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Magic Software Enterprises had a net margin of 6.83% and a return on equity of 16.36%. The business had revenue of $136.25 million for the quarter, compared to analysts’ expectations of $132.10 million. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that Magic Software Enterprises will post 0.95 EPS for the current fiscal year.
Hedge Funds Weigh In 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. The company's 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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