Magic Software Enterprises (MGIC) Projected to Post Earnings on Wednesday

Magic Software Enterprises (NASDAQ:MGIC) will likely be announcing its earnings results before the market opens on Wednesday, March 12th. Analysts expect the company to announce earnings of $0.25 per share and revenue of $137.00 million for the quarter.

Magic Software Enterprises Stock Performance

Shares of MGIC opened at $12.85 on Tuesday. The stock has a 50-day simple moving average of $12.51 and a 200-day simple moving average of $11.80. The stock has a market capitalization of $630.92 million, a PE ratio of 18.36 and a beta of 1.11. Magic Software Enterprises has a 1 year low of $9.51 and a 1 year high of $13.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays boosted their target price on Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. StockNews.com downgraded shares of Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 26th.

About Magic Software Enterprises

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. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.