Magic Software Enterprises (NASDAQ:MGIC) is set to announce its earnings results before the market opens on Wednesday, February 28th. Analysts expect the company to announce earnings of $0.13 per share for the quarter.
Shares of Magic Software Enterprises (NASDAQ:MGIC) opened at $8.45 on Wednesday. The firm has a market capitalization of $375.93, a price-to-earnings ratio of 31.30 and a beta of 0.76. Magic Software Enterprises has a 52-week low of $7.35 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.45 and a current ratio of 3.45.
A number of equities research analysts have recently weighed in on MGIC shares. Barclays restated a “buy” rating and set a $10.50 target price on shares of Magic Software Enterprises in a research report on Thursday, November 16th. Zacks Investment Research downgraded Magic Software Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Magic Software Enterprises in a research report on Monday, November 20th. Finally, BidaskClub downgraded Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $9.81.
About Magic Software Enterprises
Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.
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