Magic Software Enterprises Ltd (NASDAQ:MGIC) declared a Semi-Annual dividend on Tuesday, August 13th, NASDAQ reports. Stockholders of record on Tuesday, August 27th will be paid a dividend of 0.156 per share by the software maker on Thursday, September 12th. The ex-dividend date of this dividend is Monday, August 26th. This is an increase from Magic Software Enterprises’s previous Semi-Annual dividend of $0.09.
Magic Software Enterprises has increased its dividend by an average of 17.4% annually over the last three years. Magic Software Enterprises has a payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Magic Software Enterprises to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.31 annual dividend with an expected future payout ratio of 48.4%.
Shares of NASDAQ:MGIC opened at $9.20 on Friday. Magic Software Enterprises has a 12-month low of $7.29 and a 12-month high of $10.20. The business’s fifty day simple moving average is $8.95 and its 200-day simple moving average is $8.82. The company has a market capitalization of $447.35 million, a PE ratio of 16.94 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.08.
Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings results on Tuesday, August 13th. The software maker reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. Magic Software Enterprises had a return on equity of 10.43% and a net margin of 6.74%. The business had revenue of $77.06 million for the quarter, compared to the consensus estimate of $76.55 million. Research analysts predict that Magic Software Enterprises will post 0.59 EPS for the current year.
A number of research firms have recently weighed in on MGIC. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Magic Software Enterprises in a research report on Thursday, May 23rd. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Saturday, August 17th. BidaskClub upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, ValuEngine lowered Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th.
About Magic Software Enterprises
Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.
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