Wall Street brokerages predict that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will post earnings per share (EPS) of $0.73 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Open Text’s earnings, with estimates ranging from $0.72 to $0.74. Open Text reported earnings of $0.76 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The firm is scheduled to announce its next earnings report on Wednesday, January 30th.
On average, analysts expect that Open Text will report full year earnings of $2.66 per share for the current year, with EPS estimates ranging from $2.61 to $2.71. For the next financial year, analysts forecast that the company will report earnings of $2.92 per share, with EPS estimates ranging from $2.82 to $3.01. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Open Text.
Open Text (NASDAQ:OTEX) (TSE:OTC) last issued its quarterly earnings data on Wednesday, October 31st. The software maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Open Text had a net margin of 8.51% and a return on equity of 7.99%. The business had revenue of $667.20 million during the quarter, compared to analysts’ expectations of $692.53 million. During the same period last year, the company posted $0.54 EPS. The business’s revenue was up 4.1% on a year-over-year basis.
OTEX has been the subject of a number of recent research reports. Raymond James reissued an “outperform” rating and issued a $48.00 price objective on shares of Open Text in a research note on Monday, October 22nd. BidaskClub cut shares of Open Text from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Barclays reissued a “buy” rating on shares of Open Text in a research note on Thursday, November 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price target on shares of Open Text in a research note on Thursday, November 1st. Finally, CIBC reaffirmed an “average” rating and set a $51.00 price target on shares of Open Text in a research note on Monday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $45.30.
Shares of NASDAQ:OTEX opened at $33.06 on Monday. Open Text has a 52 week low of $31.98 and a 52 week high of $40.31. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 36.33 and a beta of 0.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 1.51.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Friday, November 30th will be paid a dividend of $0.1518 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.84%. Open Text’s dividend payout ratio is presently 67.03%.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Open Text by 3.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,558,071 shares of the software maker’s stock valued at $249,469,000 after buying an additional 225,874 shares during the period. Morgan Stanley boosted its position in Open Text by 176.0% in the 3rd quarter. Morgan Stanley now owns 1,144,367 shares of the software maker’s stock valued at $43,533,000 after buying an additional 729,774 shares during the period. Nordea Investment Management AB purchased a new stake in Open Text in the 3rd quarter valued at about $37,491,000. Neuberger Berman Group LLC boosted its position in Open Text by 95.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 14,632 shares of the software maker’s stock valued at $557,000 after buying an additional 7,161 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its position in Open Text by 1.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,496,882 shares of the software maker’s stock valued at $209,101,000 after buying an additional 54,105 shares during the period. 67.27% of the stock is owned by hedge funds and other institutional investors.
About Open Text
Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.
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