Magic Software Enterprises Ltd (NASDAQ:MGIC) – Equities researchers at William Blair issued their Q1 2021 EPS estimates for shares of Magic Software Enterprises in a research report issued on Monday, March 9th. William Blair analyst M. Nolan anticipates that the software maker will earn $0.17 per share for the quarter. William Blair also issued estimates for Magic Software Enterprises’ Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.20 EPS, Q4 2021 earnings at $0.21 EPS and FY2021 earnings at $0.77 EPS.
Magic Software Enterprises (NASDAQ:MGIC) last announced its earnings results on Monday, March 9th. The software maker reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $90.93 million for the quarter, compared to the consensus estimate of $83.45 million. Magic Software Enterprises had a net margin of 6.41% and a return on equity of 10.95%.
Several other analysts also recently weighed in on MGIC. Zacks Investment Research downgraded Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. HC Wainwright downgraded Magic Software Enterprises from a “buy” rating to a “neutral” rating and cut their target price for the company from $11.00 to $8.50 in a research note on Wednesday. BidaskClub downgraded Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, ValuEngine raised Magic Software Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd.
Shares of Magic Software Enterprises stock opened at $8.11 on Wednesday. The business’s fifty day moving average price is $10.52 and its two-hundred day moving average price is $9.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.21 and a quick ratio of 3.21. The company has a market capitalization of $422.74 million, a P/E ratio of 23.17 and a beta of 0.75. Magic Software Enterprises has a 1-year low of $8.01 and a 1-year high of $11.53.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Magic Software Enterprises in the 4th quarter worth $23,546,000. Renaissance Technologies LLC raised its stake in shares of Magic Software Enterprises by 11.6% in the 4th quarter. Renaissance Technologies LLC now owns 491,798 shares of the software maker’s stock worth $4,810,000 after buying an additional 51,133 shares in the last quarter. Phoenix Holdings Ltd. raised its stake in shares of Magic Software Enterprises by 44.9% in the 4th quarter. Phoenix Holdings Ltd. now owns 412,218 shares of the software maker’s stock worth $4,004,000 after buying an additional 127,677 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of Magic Software Enterprises by 4.9% in the 4th quarter. Naples Global Advisors LLC now owns 158,224 shares of the software maker’s stock worth $1,547,000 after buying an additional 7,375 shares in the last quarter. Finally, Meitav Dash Investments Ltd. raised its stake in shares of Magic Software Enterprises by 35.0% in the 4th quarter. Meitav Dash Investments Ltd. now owns 55,000 shares of the software maker’s stock worth $538,000 after buying an additional 14,252 shares in the last quarter. 10.63% of the stock is currently owned by institutional investors.
Magic Software Enterprises Company Profile
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.
