Open Text Corp (OTEX) Expected to Post Earnings of $0.72 Per Share

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Equities research analysts expect that Open Text Corp (NASDAQ:OTEX) (TSE:OTC) will report earnings per share of $0.72 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Open Text’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.68. Open Text also reported earnings of $0.72 per share during the same quarter last year. The business is scheduled to report its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Open Text will report full year earnings of $2.76 per share for the current year, with EPS estimates ranging from $2.72 to $2.78. For the next financial year, analysts forecast that the company will report earnings of $2.92 per share, with EPS estimates ranging from $2.75 to $3.01. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Open Text.

Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its earnings results on Wednesday, May 1st. The software maker reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.19. Open Text had a net margin of 9.57% and a return on equity of 7.31%. The company had revenue of $719.10 million for the quarter, compared to analyst estimates of $710.47 million. During the same quarter in the prior year, the business posted $0.54 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year.

OTEX has been the topic of a number of analyst reports. Raymond James restated an “outperform” rating and issued a $48.00 target price on shares of Open Text in a report on Friday, January 25th. TD Securities upped their target price on shares of Open Text from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 1st. Royal Bank of Canada upped their target price on shares of Open Text from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 1st. BMO Capital Markets set a $43.00 target price on shares of Open Text and gave the stock a “buy” rating in a report on Saturday, February 2nd. Finally, Mitsubishi UFJ Financial Group upped their target price on shares of Open Text to $43.00 in a report on Monday, February 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Open Text currently has an average rating of “Buy” and a consensus price target of $45.60.

Hedge funds have recently modified their holdings of the business. Enlightenment Research LLC bought a new stake in Open Text in the 4th quarter worth about $26,000. Zions Bancorporation N.A. bought a new stake in Open Text in the 1st quarter worth about $27,000. Benjamin F. Edwards & Company Inc. bought a new stake in Open Text in the 4th quarter worth about $31,000. Icon Wealth Partners LLC bought a new stake in Open Text in the 1st quarter worth about $46,000. Finally, Lindbrook Capital LLC bought a new stake in Open Text in the 4th quarter worth about $56,000. 67.00% of the stock is owned by institutional investors and hedge funds.

Shares of OTEX traded up $0.12 on Monday, reaching $40.47. The company’s stock had a trading volume of 322,780 shares, compared to its average volume of 483,107. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.38 and a quick ratio of 1.38. Open Text has a twelve month low of $30.99 and a twelve month high of $41.13. The firm has a market capitalization of $10.90 billion, a PE ratio of 44.47 and a beta of 0.54.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 31st will be given a $0.1746 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.73%. This is an increase from Open Text’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, May 30th. Open Text’s dividend payout ratio is presently 67.03%.

Open Text Company Profile

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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